Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Evaluate Nominal wages?
Nominal wages
W = (W/P).P
The nominal wage is equal to the real wage times the price level.
Because the real wages W/P is determined in labor market and P is determined by quantity theory of money, we can also determine nominal wage in classical model: W = (W/P).P. From the labor market, Say's Law and quantity theory, now we have determined W, P, Y and L. We can also illustrate how all these four are determined concurrently:
Figure: Determination of W, P, Y and L
Habelers theory of opportuniyu cost
short notes on absolute advantage
Aggregate demand with inflation In previous versions of Keynesian model, Components of aggregate demand did not depend on P. In IS-LM and in AS-AD models, investments depended
How does the Ricardo Viner diagram react when once price changes, effects on real wages, and labor allocation?
what is it?
In monopolistic competition: a) Firms face a perfectly elastic demand curve b) All products are homogeneous c) Firms make normal profits in the long run d) There are ba
Despite the economic progress that the U.S. has observed in the past century, the standard of living remains extremely low in many countries. Why are some countries relatively weal
The cash flows (CF t ) associated with an investment are listed below (assume that each cash flow occurs at the beginning of each year): CF 0 = -200
WHAT IS THE BEST EXCHANGE RATE TYPE
with the help of a graph, explain factors that may cause a shift in the balance of payments
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd