« previous next »

Author Question: The ratio of exports to GDP for the United States in 2014 is approximately equal to A) 6. B) 13. ... (Read 66 times)

maychende

  • Hero Member
  • *****
  • Posts: 556
on: Jun 30, 2018
The ratio of exports to GDP for the United States in 2014 is approximately equal to
 
  A) 6.
  B) 13.
  C) 21.
  D) 31.

Question 2

Explain why nominal wages are a function of the expected price level.
 
  What will be an ideal response?


sabina576

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

Workers and firms care about the real wage. Nominal wages are typically set for a period of time by contracts. Individuals will, therefore, be concerned about what the future price level will be when determining the nominal wage. When setting the nominal wage, individuals will form expectations of what the future price level will be. They will use this to help determine the nominal wage.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Sources of Energy in the United States Sources of Energy in the United States
Prevalence of Diabetes in the United States Based on Age and Sex Data from the American Diabetes ... Prevalence of Diabetes in the United States Based on Age and Sex Data from the American Diabetes ...
Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ... Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ...
Example of an approximately 37,500 probespotted oligo microarray. Example of an approximately 37,500 probespotted oligo microarray.
Approximately 40 percent of farmers in the United States are 55 years old or older Approximately 40 percent of farmers in the United States are 55 years old or older
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts, 27th ... Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts, 27th ...
Video: Hemoglobin's affinity with oxygen - carbon dioxide, temperature and bisphosphoglycerate (BPG)

For a complete list of videos, visit our video library