A US employee used to receive $45,000 yearly income in 1990. For this employee to maintain his same standard of living, hissalary was increased to $180,000 in 2016 with the current price level of 102.5. What was the price level in 1990?Select one:a.31.425Ob.34.525c.None of the answers are correctO d. 25.625e.23.235

Given: Yearly income in 1990 = $45000 Yearly salary in 2016 = $180000 Current price level = 102.5

Answered: A US employee used to receive $45,000…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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00 LO %24 WAGE 7. Shifts in labor supply Assume that the consulting and information technology industries employ people with similar skills. Suppose an increase in the demand for computer analysts leads to a rise in their wages, while the demand for consultants remains the same. The following graph shows the labor market for consultants in the United States. Show the effect of the rise in demand for computer analysts on the U.S. labor market for consultants by shifting the labor demand curve, the labor supply curve, or both. Supply Demand Supply Demand LABOR MacBook Pro * > %23 3. 4. R. A S K ב B.
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do fast .
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