If product prices increase slower than nominal wages increase, then the real value of wages decreases.
Answer the following statement true (T) or false (F)
False
Economics
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When a rich nation buys a product made in a poor nation, in the poor nation the demand for labor ________ and the wage rate ________
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
Economics
An aircraft company has signed a contract to deliver a plane 3 years from now. The price they will receive at the end of 3 years is $20 million. If the firm's cost of capital is 6%, what is the present value of this payment?
What will be an ideal response?
Economics