« previous next »

Author Question: The ratio of exports to GDP for the United States in 2014 is approximately equal to A) 6. B) 13. ... (Read 60 times)

maychende

  • Hero Member
  • *****
  • Posts: 556
on: Jun 30, 2018
The ratio of exports to GDP for the United States in 2014 is approximately equal to
 
  A) 6.
  B) 13.
  C) 21.
  D) 31.

Question 2

Explain why nominal wages are a function of the expected price level.
 
  What will be an ideal response?


sabina576

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

Workers and firms care about the real wage. Nominal wages are typically set for a period of time by contracts. Individuals will, therefore, be concerned about what the future price level will be when determining the nominal wage. When setting the nominal wage, individuals will form expectations of what the future price level will be. They will use this to help determine the nominal wage.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Independent assortment of chromosomes at meiosis explains Mendel’s ratio Independent assortment of chromosomes at meiosis explains Mendel’s ratio
The cultural script in the United States is for males to be the initiators and females the ... The cultural script in the United States is for males to be the initiators and females the ...
States that require licensing or certification. Graphic provided by Associated Bodywork & ... States that require licensing or certification. Graphic provided by Associated Bodywork & ...
United States, southwestern and southern states are suffer from a significant decrease in rainfall United States, southwestern and southern states are suffer from a significant decrease in rainfall
Approximately 40 percent of farmers in the United States are 55 years old or older Approximately 40 percent of farmers in the United States are 55 years old or older
Find angles (in radians) from trigonometric ratio Find angles (in radians) from trigonometric ratio
Video: Factors that affect conduction rates (myelination, axon diameter & temperature)

For a complete list of videos, visit our video library