--%>
Assignment Help - homework help

Nominal wages

If the nominal wages of carpenters rose by 5 percent in the year of 2000 and the price level increased by 3 percent, then the real wages of carpenters: A) decreased by 2 percent. B) increased by 2 percent. C) increased by 3 percent. D) increased by 8 percent.

   Related Questions in Microeconomics

  • Q : Income Distribution in Lorenz Curve

    When line 0D0' represents the 1929s U.S. income distribution and line 0B0'shows the 1975 income distribution, in that case the 2005 year’s income distribution would be signified by: (i) line 0A0'. (ii) line 0B0'. (iii) line 0C0'. (iv) line 0D0'.

    		•
  • Q : International demand or supply affected

    Sixty Chinese manufacturers have started producing generic staplers. Since each factory is very small to noticeably influence the international demand or supply for staplers, every firm is: (1) a cartelized seller. (2) a price taker. (3) a primary goo

    		•
  • Q : Short-run market supply curve of a

    Short-run market supply curve of a competitive industry is derived by summing all the firms’: (1) average cost curves vertically. (2) short-run supply curves horizontally. (3) production capacities along with the resources available. (4) individ

    		•
  • Q : Circular flow of Income Elucidate the

    Elucidate the circular flow of Income in two sector model. Answer: There are just two sectors namely: Firms and households. Households give factor services to the fi

    		•
  • Q : Quantity supply or demand to changes in

    When a measure of the responsiveness of one variable to other (for example, quantity supplied [or demanded] to changes within price), elasticity: (w) provides no criterion for identifying responsiveness. (x) depends on the units used to express change

    		•
  • Q : Profit-maximizing price and output

    Unlike a purely competitive firm, a monopolist can: (w) select a price and sell as much as this needs (x) equate marginal revenue as well as marginal cost to maximize profits. (y) produce any required amount and sell as much as this d

    		•
  • Q : Exploiting the economies of Scope Bobby

    Bobby Lee’s dairy has gainfully expanded beyond butter, fresh milk and cheese, by providing Organizmic Fertilizer, guided by ATV tours for the visitors, and Granny Lee’s Exfoliating Body Yogurt. The Clyde County Business News trumpets that the Bobby Lee ha

    		•
  • Q : Shrinking of Production possibilities

    The Production possibilities frontiers are most probable to shrink when: (1) National income becomes less fairly distributed. (2) High-tech agriculture reduces jobs for migrant farm workers. (3) A 3-hour nuclear war blasts technology back to Stone Age

    		•
  • Q : Charting of past prices Can the

    Can the charting of past prices be used to predict future prices?

    		•
  • Q : Preferance of food after income rises

    Assume that, for you, lobster is an ordinary good and peanut butter is a poorer good. When your income increases, you will probably consume: (1) Greater of both goods. (2) Less of both goods. (3) Greater peanut butter and less lobster. (4) Greater lobster and less pea

    		•