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How would the 1.1 percentage point reduction in the CPI inflation rate revise or change the level of wages in the United States? Were individual's incomes higher or lower than what economists previously had thought under the Bureau of Labor Statistics' (BLS) prior formulation of the CPI?
Under the Boskin adjusted data, the real wage in 1980 was $26,405.288. This is much lower than the nominal wage of $13,832 calculated using the BLS data. Therefore, under the Boskin adjusted data nominal wages were much lower than previously thought.
Under the Boskin adjusted data, the real wage in 1980 was $26,405.288. This is much lower than the real wage of $38,867.92 calculated using the BLS data. Therefore, under the Boskin adjusted data wages were much lower than previously thought. This means that if you adjust or tinker with historic inflation rates it will lead to a rewriting of economic history.
The adjustment to the inflation rate would lead to the real wage in 1980 being much higher than previously thought.
There are two goods 1 and 2. Denote the consumption bundle consisting of x1 units of good 1 and x2 units of good 2.Write down the equation for the indierence curve that passes through the consumption bundle.
What is the equivalent present value of the following series of payments: $7000 the first year, $6500 the second year, $6000 the third year, $5500 the fourth year, and $5000 the fifth year? The interest rate is 10%, compounded annually. Answer: $2..
What is the role of government? Explain the microeconomic and macroeconomic policies of the government.
A multilevel page table is preferred in comparison to a single level page table for translating virtual address to physical address because?
Explain the relationship between savings and investment as well asthe relationship between private savings and government savings.What are the implications of the current saving behavior ofAmericans on financing domestic investment and on GDP
A. Graphically show and explain how carpooling may eliminate the shortage and explain your answer. B. Graphically show and explain how building more freeway may eliminate the shortage and again explain your answer
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America is considered a rich nation because Americans can choose from an abundance of goods and services. How can there be scarcity in a land of abundance.
1. What's the difference between a single-row subquery and a multiple-row subquery?
Explain the implications of each example on U.S. policies and procedures regarding the detainment, designation, and/or treatment of terrorists. Be specific
In this economy, compute private saving, public saving, and national saving
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