This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The real wage in Fantasyland has been constant since 1950. The nominal wage in 2015 was 100, and the ... (Read 40 times)

cartlidgeashley

  • Hero Member
  • *****
  • Posts: 572
on: Jul 1, 2018
The real wage in Fantasyland has been constant since 1950. The nominal wage in 2015 was 100, and the Consumer Price Index (CPI) was 200 in 2015. What was the nominal wage in 2002 if the CPI was 50 in 2002?
 
  A) Nominal wage = 25
  B) Nominal wage = 400
  C) Nominal wage = 100
  D) Nominal wage = 250

Question 2

The nominal price of a desk increased from 20 in 2005 to 65 in 2016. The Consumer Price Index (CPI) was 125 in 2005 and 250 in 2016. We can say that
 
  A) the real price of a desk increased over time.
  B) the real price of a desk fell over time.
  C) the real price of a desk has not changed over time.
  D) There is not enough information to determine the real price of a desk.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

wshriver

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


cartlidgeashley

  • Member
  • Posts: 572
Reply 2 on: Jul 1, 2018
Excellent

sailorcrescent

  • Member
  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Korean War, 1950–1953 (1 of 2) Korean War, 1950–1953 (1 of 2)
Rudy Burckhardt, Jackson Pollock painting No. 32, 1950. Rudy Burckhardt, Jackson Pollock painting No. 32, 1950.
Concentration affects where the precipitin line forms. When 1 reactant is held at a constant ... Concentration affects where the precipitin line forms. When 1 reactant is held at a constant ...
Changes in the Age Structure of the Population, 1950–2050 Changes in the Age Structure of the Population, 1950–2050
Please help me with a Real Estate Course Problem Please help me with a Real Estate Course Problem
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Video: Types of synapses - electrical & chemical

For a complete list of videos, visit our video library