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Nutka1998 [239]
3 years ago
6

The Bureau of Labor Statistics reported the CPI stood at 215.9 in December 2009, while one year earlier it was 210.2. Suppose Ja

nice's nominal income rose by 4% from December 2008 to December 2009 while Jeff's increased by only 2%. By what percentage did each of their real incomes change?
Business
1 answer:
makvit [3.9K]3 years ago
7 0

Answer:

Annual rate of inflation = [(215.9 - 210.2) / 210.2] * 100

Annual rate of inflation = 2.7%

Real income change = Nominal income change - inflation rate

Janice Real income change = 4% – 2.7%

Janice Real income change = 1.3%

This means Janice's real income did increase by 1.3%.

Jeff Real income change = 2% – 2.7%

Jeff Real income change = -0.7%

This means Jeff's real income did decrease by 0.7%.

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rosijanka [135]

Answer:

Option (A) $750

Explanation:

Data provided in the question:

Principle amount i.e the amount deposited = $2,500

Interest rate = 6% = 0.06

Time = 5 years

Now,

The formula for the Simple interest is given as:

Interest = Principle × Rate of interest × Time

Thus,

Interest = $2,500 × 0.06 × 5

or

Interest = $750

Hence,

Option (A) $750

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3 years ago
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Answer:

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Explanation:

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2 years ago
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attashe74 [19]

<u>When the average product of labor is decreasing​, the marginal  product of labor is less than average product of the labor.</u>

Explanation:

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<u>Thus we can say that When the average product of labor is decreasing​, the marginal  product of labor is less than average product of the labor.</u>

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3 years ago
Which best describes what financial planning skills ultimately enable an individual to do
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Answer:

Prepare for the future

Explanation:

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In developing and making plans, an individual considers the current and expected future income, present and expected expenditures such as medical health insurance expenses and school fees. An individual may opt to engage the services of a personal finance manager who advances on the savings and investments required to achieve the intended goals. Financial Planning Planning assists one prepare for the future.

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