« 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 61 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?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae
Several species of squirrels have melanistic phases. In large parts of United States and Canada, the Several species of squirrels have melanistic phases. In large parts of United States and Canada, the
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Occupational Prestige: How The United States Compares With Sixty Countries Occupational Prestige: How The United States Compares With Sixty Countries
One of the cultural privileges of being white in the United States is less suspicion of wrongdoing. One of the cultural privileges of being white in the United States is less suspicion of wrongdoing.
Types of Farms in the United States Types of Farms in the United States
Video: Wound Care

For a complete list of videos, visit our video library