n Completion Status: E. frictional, cyclical, and structural unemployment. QUESTION 6 Suppose an individual earned a salary of $12,000 in 1970. If the CPI was 38.8 in 1970 and 258.8 in 2020, then the value of this individual's salary in 2020 dollars is approximate O A. $80,041. O B. $71,456. OC. 593,381. O D.$1,799. O E. $60,398. QUESTION 7 If real GDP remains constant we know for sure that O A. output has declined. O B. output has risen but prices have remained constant. O C. prices have remained constant. O D. output has remained constant. O E. output has risen. QUESTION 8 All of the following factors have contributed to the rapid expansion of international trade since the 1980s. except for O A. progress in communications. O B. trade agreements. Click Save and Submit to save and submit. Click Save All Answers to save all ansuers.

n Completion Status: E. frictional, cyclical, and structural unemployment. QUESTION 6 Suppose an individual earned a salary of $12,000 in 1970. If the CPI was 38.8 in 1970 and 258.8 in 2020, then the value of this individual's salary in 2020 dollars is approximate O A. $80,041. O B. $71,456. OC. 593,381. O D.$1,799. O E. $60,398. QUESTION 7 If real GDP remains constant we know for sure that O A. output has declined. O B. output has risen but prices have remained constant. O C. prices have remained constant. O D. output has remained constant. O E. output has risen. QUESTION 8 All of the following factors have contributed to the rapid expansion of international trade since the 1980s. except for O A. progress in communications. O B. trade agreements. Click Save and Submit to save and submit. Click Save All Answers to save all ansuers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate? Select one: O a. 6.7% O b. 10.5% O c. 9.5% O d. 9%
4. Real wages, nominal wages, and unexpected changes in the price level Deborah currently earns a wage of $12.00 per hour; in other words, the amount of her paycheck each week is $12.00 per hour times the number of hours she works. Suppose the price of orange juice is $2.50 per gallon; in this case, Deborah's wage, in terms of the amount of orange juice she can buy with her paycheck, is gallons of orange juice per hour. When workers and firms negotiate compensation packages, they have expectations about the price level (and changes in the price level) and agree on wage with those expectations in mind. If the price level turns out to be lower than expected, a worker's than both the worker and employer expected when they agreed to the wage. wage is a Deborah and her employer both expected inflation to be 4% between 2012 and 2013, so they agreed, in a two-year contract, that she would earn $12.00 per hour in 2012 and $12.48 per hour in 2013. However, suppose inflation between 2012 and…
Suppose the existing labor force inside the country is 1,000,000 persons, of whom 900,000 are employed and 100,000 unemployed. Suddenly 100,000 overseas workers are thrown out of their jobs overseas and must return home. Of these, 95,000 become employed while 5,000 have difficulty finding jobs and are unemployed. As a result of this development, the unemployment rate of the country from to O a. rises; 11 percent; 11.6 percent O b. falls; 10 percent; 9.5 percent O c. rises; 10 percent; 11 percent O d. falls; 11 percent; 10 percent
The reference base period is a period for which the is defined to equal Currently, the reference base period is 1982-1984. O A. inflation rate; 1 percent O B. PPI; 110 O C. interest rate; 1 percent O D. CPI; 100 Click to select your answer. DI
Suppose that some country had an adult population of about 50 million, 28.5 million were employed and 1.5 million were unemployed. What was the labor force participation rate? 1) 3% O 2) 57% 3) 60% O 4) None of the above is correct.
Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the basket's cost was S77: in 2013. the basket's cost was $82; and in 2014, the basket's cost was $90. The value of the CPI in 2014 was O a. 109.8 and the inflation rate was 9.8%. O b. 109.8 and the inflation rate was 16.9%. O c. 116.9 and the inflation rate was 9.8. O d. 116.9 and the inflation rate was 16.9%.
Please no written by hand solutions and no image