Which of the following steps in the college application process should be done as a junior, rather than as a senior?

A case study in the chapter analyzed purchasing-power parity for several countries using the price of Big Macs. Here are data fo

goblinko [34]

Answer:

Predicted exchange rate = Country price of Big Mac/ US price of Big Mac

Predicted exchange rate:

Chile = 2,050 / 4.37

= 469.11 Pesos / US dollar

Hungary = 830 / 4.37

= 189.93 Forints / USD

Czech Republic = 70 / 4.37

= 16.01 Korunas / USD

Brazil = 11.25 / 4.37

= 2.57 Real/ USD

Canada = 5.41 / 4.37

= 1.24C$/ US$

According to purchasing power parity, the predicted exchange rate between the Hungarian forint and the Canadian dollar is 153.42 Forint per C$. However, the actual exchange rate is 217 Forint per Canadian Dollar.

Predicted exchange rate = 830 / 5.41 = 153.42 Forint per C$

Actual Exchange rate = 217/1 = 217 Forint per C$

5 0

2 years ago

A. Explain the role labor’s productivity plays in wage determination in the competitive labor market. If productivity increases,

Dima020 [189]

Answer:

(A)Wages decrease in the long term

Explanation:

(A) The principles of supply and demand applies here.

Higher worker productivity in a particular industry implies increased demand for workers in the industry (short term effect).

Increased supply of workers implies:

1. output per worker increases, resulting in increase in supply of products in the industry. But, the laws of supply and demand comes in, because when supply increases, prices decrease.

That is, the increase in worker productivity may cause a decrease in prices resulting in a decrease in wages since the firm's revenue declined (long term effect).

2. Increase in the supply of workers in the industry with increased in productivity over workers from other industry because of initial increase in wages. This would lead to a decrease in wages because the supply of workers would exceed demand.

(B) The compensation differential is the additional amount of money that a given worker must be offered in order to motivate him to accept a given undesirable job, relative to other jobs that the worker could perform.

(C) This is called a derived demand because it is often based on the demand for products.

For example, when consumers want more of a particular good or service eg clothing, more firms in the industry will want workers that make this product.

6 0

2 years ago

A report indicated that the average real wage in manufacturing declined by 2 percent between 1990 and 2000. If the CPI equaled 1

inn [45]

Answer:

W = $27.34

Explanation:

Given data:

Percentage Decline in average income is = 2%

CPI in 1990 1.30

CPI in 2000 is 1.69

Average nominal wage is 2000 is $35

Inflation rate is given as

Inflation rate = % Change in CPI

= (1.69 / 1.3) - 1

= 1.3 - 1 = 0.3 = 30%

Real wage = Nominal wage / Price level, hence

Percentage change in real wage = % Change in (nominal wage - inflation rate)

-2% = % Change in nominal wage - 30%

% Change in nominal wage = 28%

let nominal wage in 1990 is w

W\times 1.28% = $35

solving for W = $27.34

8 0

3 years ago

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Illusion [34]

Answer:

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Explanation:

Human resources development is important because it is an investment in one's employees that will ultimately result in a stronger and more effectiv

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amksusshhvsu

5 0

2 years ago

Read 2 more answers

A customer asks Roger a question about a product, and he isn't sure of the correct answer. He immediately phones his supervisor

Vikentia [17]

Answer:

Roger used the technique of "responding to every concern by the customer" for building positive customer relations.

Explanation:

Building up strong customer relationships includes following techniques:

Communication which means inquiring customer needs and wants, listening to them, providing them information.
Exceeding Customer Expectations
Providing Value in the form of quality products and services
Responding to every concern which means taking each and every question, doubts or concerns of a customer seriously and providing them with the required information.

In the given case, the moment Roger knew that he wasn't sure of the information asked for, he immediately rang up his superior to get the exact correct information so as not to disappoint the customer.

This technique relates to responding to every concern by a customer.

5 0

2 years ago