Suppose you recently took a pay cut of 2% at your job. You expect the price level to fall by 3% during this year. What would be the impact on your real wage?
a. The real wage would fall by 3%
b. The real wage would rise by 3%
c. The real wage would fall by 1%
d. The real wage would rise by 1%
e. The real wage would be unchanged
D
Economics
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What are some distinctions between light industry and heavy industry? Why do economies tend to start with light, and move to heavy industries?
What will be an ideal response?
Economics
The tendency for declines in economic activity to be followed by further declines, and for growth in economic activity to be followed by more growth is called
A) persistence. B) comovement. C) periodicity. D) recurrence.
Economics