Friedman and Phelps suggested that there should not be a stable relationship between inflation and unemployment, but there should be a stable relationship between: unanticipated inflation and cyclical unemployment.
<h3>What is inflation?</h3>
This is the time in the government or the economy of a nation where they are faced with the rise in the prices of goods and services.
This may cause people to lose their jobs and also cause people to buy less of goods and services.
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Answer:
B) We can say that the firm is maximizing profit in the short run
Explanation:
A rational producer is at profit maximising equilibrium where : Marginal Revenue = Marginal Cost.
When MR > MC, profit is increasing & it is beneficial for firm to expand output. When MR < MC, it is loss making & it is beneficial for firm to decrease output.
If at 500 units of output : MR = MC, firm is maximising profit in short run.
An organization have to have business research, data collection and data <span>interpretation capabilities.
</span>Research on historical data and forecasts of a similar company and forecasts of the product market or the industry where in the expected sales or demand of the same product is provided and the <span>previous sales of the product is provided would be useful.</span>
Answer:
Total earnings= $581.52
Explanation:
Giving the following information:
Jane receives 16 cents for every unit produced. jane produces 3,512 pieces in a 43-hour workweek.
For overtime, Jane is paid a sum equal to one-half the regular hourly pay rate.
I will assume that Jane works evenly each hour.
<u>First, we will determine the number of units produced for an hour:</u>
<u />
Units for an hour= 3,512/43= 81.67 units
<u>Now, the total piece work and overtime:</u>
Piecework= 0.16*3,512= $561.92
Overtime= (81.67*3)*0.08= $19.6
Total earnings= $581.52