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The consumer price index for the 1978-82 periods and the GDP deflator follow. This was a period of unusually high, but declining, inflation. (The CPI is equal to 100 in the base years, 1982 - 84; the GDP deflator is equal to 100 in the base year 1987) CPI GDP Deflator 1978 65.2 60.3 1979 72.6 65.5 1980 82.4 71.7 1981 90.9 78.9 1982 96.5 83.8 A : Calculate the rate of inflation according to both measures from 1979 through 1982 .What might explain the differences between the two B: Suppose that the hourly wage rate for a group of workers that sign an employment contract for the three year period starting in 1979 is indexed to the CPI according to the formula ?W/W= 0.03 +0.05 ?CPI/CPI Calculate the actual increase in wages during each year of the contract period. If the wage is $12.00 in 1979, what was it in 1980, 1981, and 1982? What happens to the real wage measured in terms of the CPI Repeat your calculations with 0.03 reduced to 0 and 0.5 increased to 1 .What indexing formula would the workers employer have preferred? Is there any reason for the employer to have been happy with the other formula before the actual inflation experience was known?
Explain about the diminishing returns to an input. There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of
when the income velocity of circulation (V) rises, why does the economy''s total output must rise?
How do you figure out the answer to this question: You are a student at a university. You pay $8,000 per year in tuition, $5,000 per year in living expenses, and $1,000 per year fo
The yeild of Maize is 73429 Hg/Ha, I need to translate it into bu/a, and I konw use 56lbs/bu as test weight. Please leave the process so that I know how to do it, thankyou.
how does economy works?
he questions posed are broad and open ended so be careful to allow yourself enough research and planning time. If you are completely on top of the material delivered in class, then
Q. Illustrate the Says Law? With Say's Law, aggregate demand would always be equal to aggregate supply and cross model would be incorrect. Keynes's argument as to why Say's
Financing of the external payments deficit: The trend in India's widening CAD during the second half of the eighties, both in absolute terms and also as a proportion of the
Determination of all endogenous variables We can explain how all the endogenous variables are determined in below figure: Figure: The Keynesian model with the Phillips c
using a graph of the classical labour market illustrste the effects of real wage existing in the market lower than the equilibrium real wage
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