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

Author Question: Alejandro expects the price level to rise from 105 this year to 108 next year. If the price level ... (Read 117 times)

theo

  • Hero Member
  • *****
  • Posts: 698
on: Jun 29, 2018
Alejandro expects the price level to rise from 105 this year to 108 next year. If the price level rises to 110 next year instead of 108, which of the following will occur?
 
  A) Alejandro's real wage rises.
  B) Alejandro's real wage remains unchanged.
  C) Alejandro's real wage may rise or fall, depending on the unemployment rate.
  D) Alejandro's real wage falls.

Question 2

Explain how market economies are generally better able to achieve technological progress than are centrally planned economies.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bob

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

In a centrally planned economy, decisions regarding the allocation of resources are made by government employees paid a salary, not by independent entrepreneurs whose own finances are at stake. Independent entrepreneurs make choices for the use of resources based on the expected profitability of various projects. This drive for profit provides an incentive for technological change that centrally planned economies are unable to duplicate. The result is that technological progress is more likely in market economies than in centrally planned economies.


theo

  • Member
  • Posts: 698
Reply 2 on: Jun 29, 2018
Gracias!

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

The carbon cycle. Numbers are storage as 1015 g or fluxes as 1015 g per year (data from Schlesinger The carbon cycle. Numbers are storage as 1015 g or fluxes as 1015 g per year (data from Schlesinger
A 5,000-year-old Egyptian garment A 5,000-year-old Egyptian garment
Honey should never be given to children younger than one year of age Honey should never be given to children younger than one year of age
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011 Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
Seven students have applied for merit scholarships. This year 3 merit scholarships were ... Seven students have applied for merit scholarships. This year 3 merit scholarships were ...
The quaternary level of protein structure as seen in hemoglobin The quaternary level of protein structure as seen in hemoglobin
Video: Insulin (glucose uptake by body cells), glycogenesis and lipogenesis

For a complete list of videos, visit our video library