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Author Question: Suppose the real wage of a worker remains unchanged between Year 1 and Year 2 but the nominal wage ... (Read 89 times)

abc

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on: Jun 30, 2018
Suppose the real wage of a worker remains unchanged between Year 1 and Year 2 but the nominal wage decreases from 20 in Year 1 to 18 in Year 2 . This implies that the price level has:
 a. increased by 20 percent.
  b. increased by 25 percent.
  c. remained unchanged.
 d. fallen by 10 percent.
 e. fallen by 20 percent.

Question 2

The demand for money will be high in an economy experiencing:
 a. a depression.
 b. hyperinflation.
 c. deflation.
 d. a recession.
 e. a sluggish population growth.


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bob

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


abc

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

nathang24

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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