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

Author Question: Define the nominal wage rate and the real wage rate. Can the nominal wage rate increase faster than ... (Read 224 times)

mspears3

  • Hero Member
  • *****
  • Posts: 586
on: Jun 29, 2018
Define the nominal wage rate and the real wage rate. Can the nominal wage rate increase faster than the real wage rate?
 
  What will be an ideal response?

Question 2

Should I buy a new or a used copy of the textbook? According to the economic way of thinking, the person is asking about
 
  A) economic efficiency.
  B) educational efficiency.
  C) scholastic efficiency.
  D) motivational efficiency.
  E) academic efficiency.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ndhahbi

  • Sr. Member
  • ****
  • Posts: 390
Reply #1 on: Jun 29, 2018
Answer to Question 1

The nominal wage rate is the wage rate measured in current dollars and the real wage rate is the wage rate measured in constant dollars. More generally, the nominal wage rate is the number of dollars received for an hour's work and the real wage rate is the number of goods and services that can be purchased with an hour's work. The nominal wage rate increases faster than the real wage rate when prices are increasing, that is, when inflation occurs.

Answer to Question 2

A


mspears3

  • Member
  • Posts: 586
Reply 2 on: Jun 29, 2018
:D TYSM

mcarey591

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

The greatest bone mass is found around age 30 for both men and women, with the later decline being f The greatest bone mass is found around age 30 for both men and women, with the later decline being f
To increase pressure using body weight, lean on your client. To increase pressure using body weight, lean on your client.
How to use the discriminant to determine the value of k in a quadratic with no real roots How to use the discriminant to determine the value of k in a quadratic with no real roots
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Desired Fertility versus Total Fertility Rate in Developing Countries Desired Fertility versus Total Fertility Rate in Developing Countries
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Video: Sex-Linked Traits! How are eye colors inherited in fruit flies?

For a complete list of videos, visit our video library