It is penetration pricing that is illegal in the United States and many other countries<span>. So B is the correct answer</span>
Answer:
The job in New York should offer $65,625.
Explanation:
Andrew is offered a job in Little Rock, where the CPI is 80, and a job in New York, where the CPI is 125.
Andrew's job offer in Little Rock is $42,000.
To represent the same purchasing power salary in New York should be
=
=
= $65,625
Answer:
1. Inflation is best described as _____.
- an upward, general trend of prices in the economy
2. Which of the following scenarios illustrates cost-push inflation?
- An increase in the price of raw materials decreases aggregate supply, pushing prices higher throughout the economy.
3. The Consumer Price Index in 2018 was 251. In 2019, the CPI rose to 257. Calculate the inflation rate from 2018 to 2019. Round your answer to the nearest tenth of a percent.
- 2.4%
4. The Consumer Price Index of any given year provides _____.
- the relative price of a basket of consumer goods as compared to base year prices
5. The rate of inflation in a hypothetical economy is projected to be 1.5% in the coming quarter. Given this information, the Federal Reserve is likely to _____.
- make efforts to raise the inflation rate because 1.5% is below the desired rate of inflation
Explanation:
Mark me braliest
These are 100% correct
Answer:
Suppose a senator considers introducing a bill to legislate a minimum hourly wage of $12.50.
Wage Labor Demanded Labor Supplied
$12.50 375,000 625,000
This will result in a surplus of labor (625,000 higher than 375,000)
Which of the following statements are true?
- Binding minimum wages cause structural unemployment. As with all price floors, a deadweight loss results, because the quantity supplied is much greater than the quantity demanded. In this case, the price of labor is the wage, and the deadweight loss = structural unemployment
-
In the absence of price controls, a surplus puts downward pressure on wages until they fall to the equilibrium.
Since a labor surplus exists, the price of labor should start to decrease in order to match the equilibrium price.
-
If the minimum wage is set at $12.50, the market will not reach equilibrium. The quantity supplied of labor is much greater than the quantity demanded for labor resulting in a surplus.
Answer:
15%
Explanation:
The formula and the calculation of the price elasticity of supply are presented below:
Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)
where,
Price elasticity of supply = 2
And, the percentage change in quantity supplied is 30%
So, the percentage change in price is
= 30% ÷ 2
= 15%