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 30 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
Thanks for the timely response, appreciate it

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Political Map of Africa in 2015 (2015 الخريطة السياسية لأفريقيا) Political Map of Africa in 2015 (2015 الخريطة السياسية لأفريقيا)
Your nose runs like a leaky faucet and turns beet red from constant wiping Your nose runs like a leaky faucet and turns beet red from constant wiping
Please help me with a Real Estate Course Problem Please help me with a Real Estate Course Problem
Converting the universal gas constant Converting the universal gas constant
Let f be a real function with domain R. Suppose that for each ǫ > 0, there is a continuous ... Let f be a real function with domain R. Suppose that for each ǫ > 0, there is a continuous ...
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: Photosynthesis and Van Helmont Experiment

For a complete list of videos, visit our video library