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State in brief the Nominal wage level
In macroeconomics, we are generally not interested in the wage for a specific individual though in the average wage for all employed individuals. This average is known as wage level but as we typically only care about wage level, we will almost always use wage when we actually mean the wage level. Hence a statement like "wages increase" must not be interpreted as all wages increasing but instead that average is increasing.
1. Which function of money is disrupted as a result of high inflation? Why? 2. The central bank of Fiji has issued $1,000,000 in Fijian dollars. What is the size of m
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what are the effects of interest rate in the economy of south africa in unemployment, economic groth, employment. and economic growth
Suppose P(X1)=.75 and P(Y2/X1)=.40. What is the joint probability of X1 and Y2?
Suppose a consumer's income increases from $30,000 to $36,000. As a result, the consumer increases her purchases of compact disks (CDs) from 25 CDs to 30 CDs. What is the consumer'
This is an examination of costs and revenue to explain whether a venture will make a profit. This is significant information in deciding on whether to make an investment. The lengt
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What is Purchasing power One problem in using exchange rate when comparing GDP per capita between countries is that is fluctuates quite a lot. A way of avoiding dependence on
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