Microeconomics-Labor market, wages

Document Sample
Microeconomics-Labor market, wages Powered By Docstoc
					  “An Online Tutoring and Assignment Help Company Which Has
  Helped Thousands of Students to Excel in Their Studies”




                 [MICROECONOMICS-
CLASSOF1
                 LABOR MARKET, WAGES]

  Document Description:
  Multiple choice questions on related to real Multiple choice questions related to
  real wages, nominal wages, productivity, wage growth, purely competitive
   labor market, employment.
                Sub: Economics



              Question:


         ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems
                    in Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects.



              1. Assume that initially your nominal wage was $15 an hour and the price index was 100. If the
              price level increases to 105, then your:

              a. nominal wage has decreased to $12.36.
              b. real wage has decreased to $14.29.
              c. nominal wage has increased to $15.75.
              d. real wage has decreased to $12.36.

              Ans: c

              2. Productivity measures (such as output per worker-hour) and wage rates adjusted for inflation
              in the United States are:

              a. inversely related.
              b. directly, but not closely, related.
              c. unrelated.
              d. directly and closely related.

              Ans: b

              3. Which is a valid explana
				
DOCUMENT INFO
Description: Multiple choice questions on related to real Multiple choice questions related to real wages, nominal wages, productivity, wage growth, purely competitive labor market, employment.
BUY THIS DOCUMENT NOW PRICE: $10 100% MONEY BACK GUARANTEED
PARTNER ClassOf1 .Com
Classof1 is a supplemental education company providing comprehensive online tutoring, homework guidance, and e-learning courseware development services to the school, college, and university student communities. As a part of its endeavor to help students around the world to excel in their studies, Classof1 has built a repository of self-study guides with step-by-step solutions and lucid explanations. These guides have been created and whetted by expert tutors with several years of experience in education. Apart from Docstoc.com, these self-help guides are also available at Classof1’s Solution Library (http://classof1.com/solution-library). Please visit www.classof1.com for further information.