What is Costco's CEO referring to? A. *Efficiency wages Your answer is correct.
What effect do labor unions LOADING... have on the unemployment rate? A. *Since few non-government workers are unionized, there is no significant effect on the unemployment rate. Your answer is correct. B. By increasing the wage above market equilibrium, labor unions considerably decrease the unemployment rate. C. By increasing the wage above market equilibrium, labor unions considerably increase the unemployment rate. D. Labor unions can significantly increase the unemployment rate when members go on strike B. Marketing strategies C. Structural unemployment D. Union contracts How do unemployment insurance payments LOADING... in the United States and social insurance programs in other countries increase the unemployment rate? A. They increase the opportunity cost of job search. B. They are paid as long as the unemployed person remains unemployed. C.
The payments are costly and firms are forced to lay off workers. D. *They decrease the opportunity cost of job search Try Again Complete the following table: Base Year 2009 2011 Product Quantity Price Expenditures Price Expenditures Price Expenditures Denim Jeans 1 $7070 $7070 $140140 $140140 $105105 $105105 Pizzas 20 1414 280280 2020 400400 1818 360360 Coffee Drinks 20 66 120120 66 120120 77 140140 Total $ 470 470 $ 660 660 $ 605 605 The CPI in 2009 equals 140.43 140.43 . (Enter your response rounded to two decimal places.) The CPI in 2011 equals 128.72 128.72 . (Enter your response rounded to two decimal places.) Which of the following makes changes in the CPI overstate the true inflation rate? A. Substitution bias B. Increase in quality bias C. New product bias *D. All of the above Which of the following can give an early warning of future increases in the price level? A. *Producer price index Your answer is correct. B.
Consumer price index C. GDP deflator D. All of the above . Your father earned $34,000 per year in 1984. To the nearest dollar, what is that equivalent to in 2008 if the CPI in 2008 is 215 and the CPI in 1984 is 104? A. $16,447 *B. $70,288 Your answer is correct. C. $34,000 D. $73,100 correct, Concept: Real/Nominal Wage Questi on Help Consider the following table: Year Nominal Average Hourly Earnings CPI 2008 $16.00 202 2009 $17.0 Suppose the fixed interest rate on a loan is 5.75% and the rate of inflation is expected to be 4.25%. The real interest rate is 1.5%. Suppose now that instead of 4.25%, the inflation rate unexpectedly reaches 5.5%. Who gains and who loses from this unanticipated inflation? (Mark all that apply.) A. Borrowers gain from a lower real interest rate. Your answer is correct. B. Lenders lose from a lower real interest rate. Your answer is correct. 207
C. Lenders gain from a lower real interest rate. D. Borrowers lose from a lower real interest rate. 0 2010 $18.00 209 What is the real average hourly wage in 2009? A. $8.21 Your answer is correct.
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