The equilibrium real wage is 25, the money supply equals 15, and k equals 3 . If equilibrium output is 10 then the equilibrium nominal wage is
a. 3.
b. 4.5.
c. .22
d. 5
C
You might also like to view...
If the risk associated with a particular outcome is ________, or the value of a particular outcome is ________, then cost-benefit analysis might lead people to accept too little risk
A) overestimated, overestimated B) overestimated; underestimated C) underestimated; overestimated D) underestimated; underestimated
Explain what kind of income tax structure wealthy people would most likely prefer. Do poor people share their preferences? Explain
If the economy is represented in the graph shown and is currently at point E1, then the economy must be in:
A. long-run equilibrium. B. an economic boom. C. an economic recovery. D. a recession.
An decrease in equilibrium quantity would result from
A. an increase in demand with no change in supply. B. a decrease in supply with no change in demand. C. a decrease in demand with no change in supply. D. both a decrease in supply with no change in demand and a decrease in demand with no change in supply.