Last year, you earned a nominal wage of $10 per hour and the price level was 120 . This year your nominal wage is $11 per hour, but you are unable to purchase the same amount of goods as last year. The price level this year must be
a. 135
b. 132
c. 125
d. 121
a
Economics
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Explain how we "read" the three scatter diagrams in Figs. A1.3 and A1.4
What will be an ideal response?
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Braun and Evans found that
A) the measured Solow residual varied sharply over the seasons. B) electricity use by producers rises sharply in economic upturns. C) professional forecasters have rational expectations of inflation. D) shocks to fiscal policy are the main source of business cycle fluctuations.
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To earn profits, the market maker must
a. bid high, ask low b. bid low, ask high c. equalize the bid and ask price d. not create the market
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Since the 1950s, total expenditures in the United States nearly tripled to about 60 percent of GDP
a. True b. False Indicate whether the statement is true or false
Economics