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
explain the phillips curve the relationship of inflation and unemployment
what is business cycle
A student is taking two courses, History and Math. The probability that the student will pass the history course is .60, and the probability of passing the math class is .70. The p
Whenever real GDP declines, nominal GDP must also decline
Typical start-up businesses' estimated profit are forecasted as following: State Bad Good Probability 81% 21%
Government revenue, government spending and net exports G, NT and NX are exogenous variables in the classical model In the classical model (and
By what percentage did the price level, as measured by this index, rise between 1984 and 2005?
Determine the current productivity results for the non-farming business sector and the manufacturing sector. Discuss recent productivity and cost trends and make predictions for th
Q. What is money and what is not money? If you are trying to conclude if something is money, basically consider whether it would be accepted in most stores as payment. Then you
what are the implications of corruption in economy and fiscal policy
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