If your nominal wage rises faster than the price level, we can say your real wage has ________ and the purchasing power of your income has ________
A) risen; risen B) fallen; risen C) risen; fallen D) fallen; fallen
A
Economics
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When the price of milk is $3 per bottle, Steve purchases 20 bottles of milk. When the price increases to $6, Steve's consumption falls to 15 bottles. Steve's arc elasticity of demand for milk is:
A) -0.25. B) -0.43. C) -0.50. D) -0.75.
Economics
What is the name of the agreement related to intellectual property rights?
What will be an ideal response?
Economics