Year Minimum wage CPI Minimum wage in 2020 $s 1949 $0.40 23.8 1968 $1.60 34.8 1995 $4.25 152.4 2020 $7.25 259.1 2024 (proposed) $15 306 (projected)
Q: Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be ...
A: Assuming 1 year = 26 weeks i per week = 10%/ 26 = 0.3846153% per week Effective interest rate = (1 +...
Q: Paolo enjoys consuming both soda and coffee. Each can of soda costs Ps = $1, and each cup of coffee ...
A: Consumer will maximise utility at a point where marginal rate of substitution is equal to the price ...
Q: 45. The short run A. O Is less than one year B. O Requires that at least one input is fixed C. O Req...
A: The time period of the short run is determined by how long will it take to increase the quantity of ...
Q: )Which of the following are many managers concerned about as a result of increased government partic...
A: When the authorities tend to play an important role through providing more facilities is known as an...
Q: A perfectly competitive firm, with MC=q operates in a market character,zed by the following market d...
A: In economics, profit maximization is the short run or long run process by which a firm may determine...
Q: 37. All the following curves are U- shaped except A. O AVC В. О AFC С. О АС D. O MC
A: Marginal cost refers to change in total cost with respect to change in output. MC intersects AVC and...
Q: Suppose we have the following time series data on variable Y (where t = trend): t Y 1 100 2 120 3 16...
A: Given: t y (At) 1 100 2 120 3 160 4 200 α=0.5
Q: 8. The reserve requirement, open market operations, and the moneysupply Consider a banking system wh...
A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: Consider a Japanese firm that sells product Y in the local market and contemplates sales to the US. ...
A: GIVEN The inverse demand for Y in the US is Pus = 250 - Q (all prices and costs in this problem ar...
Q: The blue curve on the following graph shows the tradeoff between security and tourism; that is, com ...
A: The PPF shows the possible attainable points by an economy. In this case the economy is already on t...
Q: Consider thé fo II 3:2 4:-2 Y 1:3 2;0 I player
A: Given that player, II has two strategies that are strategy X and strategy Y. *player I has two strat...
Q: Let z be the standard normal random variable. 1 Find P(z > 1.45) a 0.0452 b 0.0531 c 0.0625 d 0....
A: Introduction: The normal distribution also called the statistical distribution, may be a symmetric c...
Q: The National Zoo is enlisting your help in setting the price of its admission. The management is awa...
A: Answer-
Q: Which scenario describes the operation of a tariff? Angola opens up trade with the world corn market...
A: Both answers are given below
Q: 9. The discount rate and the federal funds rate The discount rate is the interest rate on loans that...
A: In the banking system, different types of interest rates are imposed by the central bank from differ...
Q: Rational choice is made by comparing different incentives. is what you must give up to get what you ...
A: C is a choice that uses the available resources to best achieve the objective of the person in makin...
Q: The following graph shows the supply curve for a group of students looking to sell used DVD players....
A: Here supply curve curve is given and it bahves step like function upwards sloping curve which Shows ...
Q: Both Google and Amazon are major players in the smart home market, using their own internally develo...
A: First we calculate the profits of google and amazon and the represent the game in a tabular form. ...
Q: The unemployment rate measures:
A: Unemployment is a situation where people are ready to work but they will not get any employment oppo...
Q: The demand for onions is very inelastic. Draw a supply/demand diagram that shows how the equilibrium...
A: Suppose you have a choice to make between two options. Let’s say for example at one particular time ...
Q: 1. Suppose that the value of $1 in Japanese yen decreases at the rate of 2% per year. a) Write the d...
A: Exchange rate: It can be defined as the rate at which the value of the domestic countries currency i...
Q: Which of the following is NOT the assumption of the Marginal Productivity Theory of Distribution?
A: To find: Which of the following is NOT the assumption of the Marginal Productivity Theory of Distri...
Q: What is the meaning of market response and data release in market consensus Give an example of each
A: Market response Market response models are designed to assist academics and managers in better under...
Q: What is the opportunity cost involved in moving from point B to A? Production possibility curve Shoe...
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the...
Q: Using the information provided in the table below, answer the following questions. Country A Count...
A: PPF, production possibilities frontier shows different combinations of two goods that can be produce...
Q: Solve the national-income model Y = C+ 1o + G C = 26+ 0.8(Y – To) G = 0.25Y di mana I, = 50 dan To =...
A: Government has a budget surplus when taxes exceed government spending and has budget deficit when go...
Q: Given existing inequalities within most countries, how are country-wide averages of benchmarks like ...
A: The uneven distribution of income throughout the population is known as inequality in income. When t...
Q: In light of the January jobs report, the anticipated Federal Reserve interest rate increases are lik...
A: With Unemployment rate still below the 4 % level, and the wage growth remains in tight condition,the...
Q: Miker, a manufacturer of generic medications, is deciding how much to charge retailers for their gen...
A: The marginal cost is the increase or decrease in the cost of manufacturing one more item or serving ...
Q: Explain the major tasks faced by service companies.
A: Problems faced by service companies:- 1) Business development is a critical technique not only for g...
Q: 3. Using a separate graph for each change, show the effects of the following changes on the market l...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: The U.S produces two goods. Micro Lectures (M) and Ice Cream (I) It does so using the function 8M^2 ...
A: US produces on the PPF 8M2+2I2=500 The citizens utility is given by, U(M.I)=10M0.5I0.5 World prices ...
Q: Hence calculate to one decimal place the percentage change in the GDP deflator between period 1 and ...
A: The formula for GDP Deflator is GDP Deflator = (Nominal GDP/Real GDP) * 100 Percentage in GDP Deflat...
Q: Because of their unique expertise with explosives, the Zambino brothers have long enjoyed a monopoly...
A: Monopoly refers to a situation in which a single supplier controls the market for a specific product...
Q: Compound interest With compound interest, the interest is added to principal in the calculation of i...
A: Given: Note=$11000 Rate of interest=10%
Q: Discuss the impacts of fiscal policy in Fiji during covid-19.
A: COVID-19 is a very serious issue which world is facing these days. As it is a communicable disease, ...
Q: QUESTION 1 From one year to the next, a country's output rose from 4,000 to 5,000, its capital stock...
A: The correct answer is given in the second step .
Q: small businesses management principles and big businesses management principles differences and simi...
A: The difference between small businesses and huge corporations is that small enterprises tend to focu...
Q: Production possibilities for one week for Simran and Preet Simran Preet Good X 160 Good X Good Y Goo...
A: Absolute advantage refers to the ability to produce more goods using same resources or same quantity...
Q: Show that absolute PPP is satisfied when the domestic price of the consumption basket in foreign ...
A: ANSWER The outright computation is determined by separating the worth of a fair in one cash, by th...
Q: What problem could arise with consumers' net demand functions as any price becomes zero? What axiom ...
A: Introduction: The demand function depicts the link between the quantity desired for a commodity (the...
Q: According to the efficient market hypothesis, in order to eam abnormally high returns, an investor w...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: Suppose GDP is Rs.8 trillion, taxes are Rs.1.6 trillion, private saving is Rs.0.5 trillion, and publ...
A: Gross domestic product (GDP) is the standard measure of the value added created through the producti...
Q: turer produces a pair of gloves at labor cost of 15 and a material cost of 40 a pair. The fixed char...
A: Given fixed cost = 90000 Labor cost = 15 Material cost = 40 Other variable cost = 15 Total variable ...
Q: . Consumer's surplus left with the consumer under price discrimination is
A: To find: Consumer's surplus left with the consumer under price discrimination is
Q: Under the FLSA, states are preempted from requiring a higher minimum wage than the federal amount. ...
A: For employees in the private sector, as well as federal, state, and local governments, the Fair Labo...
Q: Define modified Benefit/Cost ratio. An Engineering company wants to construct a dam on a river. The ...
A: Modified Benefit/Ratio: This is a cost-benefit analysis profitability measure. It's computed by mult...
Q: 5. The coach of a high school football team decides to allow girls to play football on the same team...
A: The problem relates to the subject of economic ethics and behavioural economics.
Q: 42. The Communist Manifesto, written jointly by Marx and Engels's was published in
A: To find : When was book published.
Q: QUESTION 15 The production and prices in a country in two subsequent years are described by the foll...
A: The formula for nominal GDP: Nominal GDP = Price of goods in current year * Quantity of goods in cur...
Step by step
Solved in 3 steps
- In 1997, the federal minimum wage was $5.15, today is $7.25. The CPI was 156.9 at the beginning of 1997, now it stands at 260.28. The nominal wage growth during this period was Type your answer here %.* The inflation rate during this period was Type your answer here %.* (*) Write your answer in percentage. If your answer is 0.6435, write 64.35. Has the minimum wage kept up with inflation? (Answer yes or no) Write your response here...The table below presents some data on the federal minimum wage and the CPI for several years. Fill in the column for “minimum wage in 2020 $s." Year Minimum wage CPI Minimum wage in 2020 $s 1949 $0.40 23.8 1968 $1.60 34.8 1995 $4.25 152.4 2020 $7.25 259.1 2024 (proposed) $15 306 (projected) What was the 1949 minimum wage equivalent to in 2020 $s?Real Income Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $44,200 from his initial salary of $40,000. What was Joshua's raise stated as a percentage? Inflation averaged 2.4 percent for the year. Round your answer to one decimal place. What was his real income after the raise? Round your answer to nearest cent. What was his real raise stated as a percentage? Round your answer to one decimal place. %
- Over a long period of time the price of a candy bar rose from $.20 to $1.20 over the same period the cpi rose from 150 to 300 adjusted for overall inflation how much did the price of the candy bar changeThe table below shows six years of hypothetical CPI values for the United States. Using the information in the table, compute the annual inflation rate. Instructions: Round your answers to two decimal places. CPI Values and Inflation Year 2009 2010 2011 2012 2013 2014 CPI 216.64 221.95 227.15 236.06 239.02 242.84 Inflation Rate (percent) %pads/Assignment_Chapter%204%20(4).pdf F3 E D Q Search DII F4 $ R F 1 2 / 3 | - The average nominal incomes earned in Eturia and the CPI are shown in the table below. 2018 $26,700 105 Nominal income CPI (2002= 100) FS to the nearest dollar. Calculate real income for each year. Enter your responses in the table above. Round your answers rounded to one decimal place, in the table above. b. By what percentage did real incomes rise in the years 2019 and 2020? Enter your responses V 4. decimal place. The information in the table below is for the economy of Mensk. Round your responses below to one 100% + | Working-age population Number of people in full-time employment Number of people in part-time employment Number of people unemployed Number of discouraged workers % 5 € a.What is the unemployment rate? b. What is the participation rate? 5. The table below shows national data for the economy of Westfall. Round your intermediate 9 @ T F6 6 B DELL Y H 8 & 7 F8 U N * 00 8 J F9 prt sc 2019…
- Period 1 Period 2 (base year) Period 3 Price Level Output Population 6 3 2 1 2 4 9 4 7 Use the above information to calculate the percent change in CPI between period 1 and 2. Express your answer as a decimal (rounded to the nearest thousandth).Using the data in the table below, calculate the CPI and the inflation rate in each year using 2015 as the base year. Instructions: Round your answers to one decimal place. Price of basket Year CPI Inflation rate ($) 2015 18000 2016 21500 2017 22750 2018 26150 2019 28875 2020 32550The table below shows products purchased by a representative household over the years 2022 and 2023: Items X Y Z 2022 Price $2 $1 $3 Quantity 25 12 15 OF SOCI 2023 Price $2.20 $1.10 $3.30 Quantity 28 15 16 (a) Calculate the consumer price index (CPI) for the year 2022 and 2023, taking 2022 as the base year, and determine the inflation rate between 2022 and 2023. (b) Does this inflation rate measure the actual change in cost of living encountered by households accurately? SUSS Explain.
- The following table shows the typical market basket consumed in an economy as well as data on price for years 2001 to 2003. Use this table to calculate the inflation rate between 2001 and 2002. 2003 is the base year. Price in year Price in year Price in Year Items Quantities 2001 2002 2003 Pizza $10 $20 $0.50 $12 $25 $0.55 $11 $26 $1 10 T-shirts 10 Candy 100Year CPI 2010 189 2011 211 Consider the data in the table above of the consumer price index for 2010 and 2011, using 1980 as the base year. The inflation rate for 2011 is equal to 10.8 percent 22.0 percent 8.96 percent 11.6 percent 10.4 percentUse the following urban CPI monthly data in Egypt in year 2022 to answer the questions that follow (Picture attached).Calculate the inflation rate in May 2022 and October 2022. If the CPI in November 2021 was 117.8, calculatethe annual inflation rate.