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Author Question: If the percentage increase in nominal wage rates is less than the percentage increase in the price ... (Read 35 times)

schs14

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on: Jun 30, 2018
If the percentage increase in nominal wage rates is less than the percentage increase in the price level, then:
 a. real wage rate rises and the unemployment rate falls.
  b. both real wage rate and the unemployment rate rises.
  c. both real wage rate and the unemployment rate falls.
  d. real wage rate rises and the unemployment rate remains unchanged.
  e. both real wage rate and the unemployment rate remains unchanged.

Question 2

If Pizza Hut decreases its price for a large pizza by 25 and this leads to a 75 increase in sales, we can conclude that demand is relatively elastic with regard to price over that range.
 a. True
  b. False
  Indicate whether the statement is true or false


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bdobbins

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

True


schs14

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Reply #2 on: Jun 30, 2018
Thank you


bdobbins

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Reply #3 on: Jun 30, 2018
No problemo


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