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olga2289 [7]
3 years ago
5

In​ 1982-84 dollars, the real average hourly wage rate in 2005 was ​$8.18 and in 2006 ​, it was ​$8.24 . In 2005 ​, the CPI was

195.3 and in 2006 ​, the CPI was 201.6 . Calculate the nominal wage rate in 2005 and in 2006 .
Business
1 answer:
Alona [7]3 years ago
7 0

Answer:

the nominal wage rate in 2005 and in 2006 is 15.98 and 16.61 respectively

Explanation:

The computation of the nominal wage rate in 2005 and in 2006 is shown below:

For the year 2005

= $8.18 × $195.3 ÷ 100

= 15.98

And, for the year 2006

= $8.24 × 201.60 ÷ 100

= 16.61

In this way it should be calculated

hence, the nominal wage rate in 2005 and in 2006 is 15.98 and 16.61 respectively

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<u>Solution and Explanation:</u>

1. MC = Cost of raw material + Cost of time

MC = 5 plus (10 divide by 2)

MC = $10

2.  TFC = $300

Q = 300 ,  AFC = TFC/Q = 300 divide by 300 = $1

3.  His profit maximizing output would be higher

Reason: P = MR = $15 ,  MC = $10

Since MR > MC, and at the profit maximizing point MR = MC, it is better for Nicholas to increase his output.

4.  His profit maximizing output would be higher

Reason: P = MR = $15 ,  MC = $4 + $5 = $9

Since MR > MC, and at the profit maximizing point MR = MC, it is better for Nicholas to increase his output.

3 0
3 years ago
Gross Domestic Product Title: Grantham Copyright - Description: Grantham Copyright 2018Use the data chart to answer the question
adoni [48]

Answer:

1. $ 750

2.  - $ 50

3.   $ 600

4.  $ 600

Explanation:

1. Using the data  GDP = C+I+G+ (X-M)

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GDP= $ 800 + (-50)

GDP = $ 750

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3. PCE=  Consumption+ Private Domestic Investment= $ 500 + $ 100= $ 600

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7 0
3 years ago
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Answer:

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$100,000

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KIM [24]

Answer:

I believe the answer is d

Explanation:

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In 2011, Finland had a GDP of $195 billion and a per capita GDP of $36,000. Life expectancy was about 79 years. Which of these a
irina [24]

Answer:

Finland has a free-market economy

Explanation:

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