Given the current price level

Assignment Help Business Economics

Reference no: EM131391925

You decide today that given the current price level (i.e. cost of living) you would be willing to accept any job that pays at least $50, 000. You will not accept any offer below this. Currently, the CPI is 238 (recall, the base year for the CPI is 1982-1984). Fast forward to 2018. The CPI in 2018 is 317. After graduating, you receive your first job offer. The offer is for $60, 000. Do you accept it? Explain and justify your answer.

Reference no: EM131391925

Questions Cloud

Determine distribution and allocation of scarce resources : Economists prepare economic analysis briefs to provide insight into how economic market forces operate. For this assignment, prepare an economic analysis brief that describes the role of economics in the health and medical care industry in the United..

Marge has spent her entire budget on milk and cookies : Marge has spent her entire budget on milk and cookies. The last glass of milk provided Marge with 10 additional utils and the last cookie provided her with 25 additional utils. The price of a cookie is twice the price of a glass of milk. Assuming tha..

German bundesbank increased interest rates : In 1990, Britain joined the ERM. If the German Bundesbank increased interest rates, assuming Britain maintains its exchange rate peg, the likely impact on the British economy would be a(n):

The market for automobiles-the market for sporting goods : The HHI for automobiles is? 2,350, for sporting goods is? 161, for batteries is? 2,883, and for jewelry is 81. The market for automobiles is? ______, and the market for sporting goods is? ______.

Given the current price level : You decide today that given the current price level (i.e. cost of living) you would be willing to accept any job that pays at least $50, 000. You will not accept any offer below this. Currently, the CPI is 238 (recall, the base year for the CPI is 19..

Find the break-even price and the shutdown price : In the short run, what is the fixed cost for this firm? Find the break-even price and the shutdown price. What would happen if the market price was equal to $1 per unit? Does the firm maximize its profit by producing 10 units? If no, which quantity m..

Separate demand curves in two separate markets : A monopolist faces two separate demand curves in two separate markets: P1 = 72 - 3Ql and P2 = 90 - 2Q2. The total cost curve is TC = 6 + 6Q. Find the price elasticities at the two profit maximizing points

Consumption bundles is part of consumption possibilities : Abdul spends all of his income on food (F) and shelter (S). His budget line is given by the equation 5F + 20S = 100. Which of the following consumption bundles is part of his consumption possibilities?

User Account

All Pages