If wages rise by 12 percent at the same time prices rise by 3 percent, then the increase in real wages is equal to
a. 12 percent.
b. 9 percent.
c. 6 percent.
d. 3 percent.
b
Economics
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Refer to Figure 19-5. Suppose the pegged exchange rate is $0.14/yuan and U.S. consumers increase their demand for Chinese products. Using the figure above, this would
A) increase the surplus of Chinese yuan. B) decrease the shortage of Chinese yuan. C) decrease the surplus of Chinese yuan. D) increase the shortage of Chinese yuan.
Economics
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
Economics