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Author Question: If the price level rises faster than the money wage rate, the real wage rate falls. Indicate ... (Read 158 times)

khang

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on: Jun 29, 2018
If the price level rises faster than the money wage rate, the real wage rate falls.
 
  Indicate whether the statement is true or false

Question 2

The figure above shows the price of a DVD player from 2003 to 2007.
 
  a) What type of graph is illustrated above?
  b) What is the trend in the price of a DVD player?


carolinefletcherr

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

a) The graph is a time-series graph because it plots time along the horizontal axis and the price of a DVD player along the vertical axis.
b) The trend in the price of a DVD player is negative, that is, the price of a DVD player has generally decreased from one year to the next.


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