Answer:
Whereas the SRAS curve is upward sloping, the LRAS curve is vertical because, given sufficient time, all costs adjust.
Explanation:
Photocopy I believe it is the answer
Answer:
The average inflation rate per year is expected to be 6,6%.
Explanation:
Inflation refers to the increase in the price of goods and services in a specific period of time. Considering that the statement says that the average grant is slated to increase from $4050 to $5400, you can calculate the average inflation rate per year by calculating the price increase percentage and then dividing that by 5:
($5400-$4050)/$4050= 0,33*100= 33%
33%/5= 6,6%
Answer:
Raising the minimum wage paid to workers
Explanation:
Standard of living, is based on two concepts
- the resources you hold to exchange
- the resources society holds in exchange of your resources.
When the wages of workers are increased then, the resources with labors increases,
but that will not increase the resources as offered by the society, and as the main action for increasing the standard of living, the resources in the form of technology, training, etc: shall be increased.