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

Author Question: The rate at which one currency can be traded for another is called the A) terms of trade. B) ... (Read 131 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
on: Jun 29, 2018
The rate at which one currency can be traded for another is called the
 
  A) terms of trade. B) exchange rate. C) transfer rate. D) coupon rate.

Question 2

What factors can push the real wage rate above its equilibrium level? Briefly explain each factor.
 
  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

al

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The three factors that can push the real wage rate above the equilibrium wage rate are efficiency wages, the minimum wage, and union wages. An efficiency wage is a wage rate that is set by a firm above the equilibrium wage rate. The idea is that the firm's workers will work hard in order to keep their jobs because they know that if they are fired the (equilibrium) wage they are likely to get at a new job will be less than the efficiency wage. The minimum wage is a government regulation that sets the lowest legal wage. If the minimum wage is set above the equilibrium wage rate, the equilibrium wage rate becomes illegal. Finally, a union wage is a wage rate that results from bargaining between a firm and a labor union. Typically the labor union can negotiate a wage rate that exceeds the equilibrium level in a competitive market.


futuristic

  • Member
  • Posts: 638
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Excellent

« previous next »
 

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?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Wood first appeared in plants called progymnosperms. Wood first appeared in plants called progymnosperms.
Some male birds and mammals congregate in communal courting grounds called leks. Some male birds and mammals congregate in communal courting grounds called leks.
James A. Garfield lies mortally wounded. After failing to locate the bullet, surgeons called in Alex James A. Garfield lies mortally wounded. After failing to locate the bullet, surgeons called in Alex
The mortality rate in the United States increases with age and is lower for women than men at every ... The mortality rate in the United States increases with age and is lower for women than men at every ...
Inflated Phrases Compared with Concise Terms Cont Inflated Phrases Compared with Concise Terms Cont
How to calculate invest at each rate How to calculate invest at each rate
Video: Sister chromatids of a metaphase chromosome animation

For a complete list of videos, visit our video library