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 123 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
Gracias!

Liamb2179

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

« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Frequently Used Computer Terms Frequently Used Computer Terms
Terms Related to Abnormal Blood Pressure Readings Terms Related to Abnormal Blood Pressure Readings
The upper intake manifold, often called a plenum, attaches to the lower intake manifold. The upper intake manifold, often called a plenum, attaches to the lower intake manifold.
How to evaluate algebraic terms containing fractional exponents without a calculator How to evaluate algebraic terms containing fractional exponents without a calculator
Schematic drawing of a permeation test cell used to measure the permeation rate of chemicals through ... Schematic drawing of a permeation test cell used to measure the permeation rate of chemicals through ...
Compute the rate of discount allowed on a rontor -tiller that lists for K 341 and is sold for K ... Compute the rate of discount allowed on a rontor -tiller that lists for K 341 and is sold for K ...
Video: How eudicots (true dicots) differ from monocots Animation

For a complete list of videos, visit our video library