The following table shows a person's nominal and real wages for three years, as well as the price level (price index) for each year, using the first year as the base year. Fill in the blanks in the table, and then calculate the annual inflation rate for each year (not including the base year).
Instructions: Round your answers to 2 decimal places.
Answers
Answer:
Year Nominal wage Real wage Price level Inflation rate
1 $7 $5 140 Nil
2 $9 $6 150 7.14 %
3 $12 $7.5 160 6.67 %
Explanation:
Note: The table for the question is attached as picture
Price level in Year 1 = (Nominal wage in year 1/Real wage in year 1) * 100
Price level in Year 1 = ($7.00 / $5.00) * 100
Price level in Year 1 = 1.4 * 100
Price level in Year 1 = 140
Real wage in Year 2 = (Nominal wage in year 2 / Price level in year 2) * 100.
Real wage in Year 2 = ($9.00 / 150.00) * 100
Real wage in Year 2 = $6
Nominal wage in Year 3 = (Real wage in Year 3 * Price level in Year 3) / 100.
Nominal wage in Year 3 = ($7.50 * 160) / 100
Nominal wage in Year 3 = $1,200 / 100
Nominal wage in Year 3 = $12
Inflation rate in Year 2 = (Price level in Year 2 - Price level in Year 1) / Price level in Year 1.
Inflation rate in Year 2 = (150 - 140) / 140
Inflation rate in Year 2 = 10 / 140
Inflation rate in Year 2 = 0.0714
Inflation rate in Year 2 = 7.14 %
Inflation rate in Year 3 = (Price level in Year 3 - Price level in Year 2) / Price level in Year 2.
Inflation rate in Year 3 = (160 - 150) / 150
Inflation rate in Year 3 = 10 / 150
Inflation rate in Year 3 = 0.0667
Inflation rate in Year 3 = 6.67%.
Price level in year 1 , Real wages in year 2 , Inflation rate in year 2 and Nominal wages in year 3 are 180, 8, 11.11% and 18 respectively.
Inflation based problem:Missing information is given in the picture below.
Computation:
Price level in year 1 = [NW / RW]100
Price level in year 1 = [9 / 5]100
Price level in year 1 = 180
Real wages in year 2 = NW[100 / Price level in year 2]
Real wages in year 2 = 16[100 / 200]
Real wages in year 2 = 8
Inflation rate in year 2 = [tex]\frac{Price\ level \ in \ year 2 - Price\ level \ in \ year 1}{Price\ level \ in \ year 1} \times 100[/tex]
Inflation rate in year 2 = [tex]\frac{200-180}{180} \times100[/tex]
Inflation rate in year 2 = 11.11%
Nominal wages in year 3 = [tex]\frac{Real \ wages \times price \ level \ in \ year 3}{100}[/tex]
Nominal wages in year 3 = [tex]\frac{7.50 \times240}{100}[/tex]
Nominal wages in year 3 = 18
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Related Questions
Sheridan Company produces flash drives for computers, which it sells for $20 each. The variable cost to make each flash drive is $13. During April, 650 drives were sold. Fixed costs were $1400 for the month. How much is the monthly break-even level of sales in dollars for Sheridan? $4000 $200 $3250 $13000
Answers
Answer:
$4,000
Explanation:
The computation of break-even is shown below:-
Contribution margin ratio = (SP per unit - VC per unit) ÷ SP per unit
= ($20 - $13) ÷ $20
= 35%
Break-even sales dollars = Total Fixed Costs ÷ Contribution margin ratio
Break-even sales dollars = $1,400 ÷ 35%
= $4,000
Therefore we applied the above formula.
Hence, the break even sales in dollars is $4,000
write the use of hydraulic press
Answers
Answer:
Hydraulic presses are used for ;
ForgingClinchingMouldingBlankingPunchingDeep drawing Metal forming operations. Creating more intricate shapes Can be economical with materials.Explanation:
Why could the invention of new technology lead to new business ideas?
Answers
Answer:
Why could the invention of new technology lead to new business ideas?
Explanation:
what is the difference between a traditional savings account and an online savings account
Answers
PLSSSSSS I NEED THIS ASAP
which of these is an unacceptable hiring criterion according to the equal employment opportunity commission?
a. females only
b. two years of experienced preferred
c. must speak Spanish
d. Bachelor's degree required
Answers
Among all the given statements, the one that is an unacceptable hiring criterion according to the equal employment opportunity commission is that they must speak Spanish. Hence, Option C is correct.
What is the meaning of employment opportunity?Opportunities for Employment include hiring, transferring, promoting, training, and non-disciplinary retention, as well as any reorganisation or layoffs.
Employment opportunities do not imply the formation of a job or the development of specialised training that is not already available to other employees.
An employee is compensated by their employer when they are working. As a result, they have money to spend on things like entertainment, food, clothing, and other other things. Demand rises in direct proportion to consumer spending.
Therefore, Option C is correct.
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Taking money to allow someone to get what they want is a(n) ___ choice
ethical
unethical
neither
Answers
Answer:
its b, unethical
Explanation:
fix your grammer
Answer:
Unethical
Explanation:
Imagine yourself later on down the line knowing that you did something that you can't undo. Think before you react!!! People are challenged every day, but it's up to you to make that right decision.
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST)
What is TRUE about government regulations in the United States when it comes to financial institutions?
A. There are no government regulations for international banking.
B. Electronic fund transfers (EFT) are only regulated if they are made in commercial banks.
C. The government regulates which types of financial accounts are eligible for FDIC insurance.
Answers
The answer to this question is C.
The reason for this is: Federally regulated entities include all banks in Canada, and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies and private pension plans. OSFI’s scope of regulation does not include consumer or consumer-related issues or the securities sector, which are the responsibility of other agencies, both federal and provincial.
Electronic fund transfers (EFT) are only regulated if they are made in commercial banks. This is true about government regulations in the United States when it comes to financial institutions. Hence, Option B is correct.
What are electronic fund transfers?From one bank to another bank, the movement of money is done digitally without the help of a bank employee. This is called electronic fund transfers.
With the increase of business and transactions related to it, more and more usage of smart phones and other factors have also increased electronic fund transfers.
Therefore, Option B: Electronic fund transfers (EFT) are only regulated if they are made in commercial banks is correct.
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Ben created a site that allows potential customers to fill in their information if they want a free consultation. What did Ben create an example of? Choose the answer.
Answers
Answer: the correct answer is call-to-action.
Explanation:
I Need Help ASAP!!!
1)Purchasing an insurance policy is an example of what approach to risk mitigation?
•Tolerate
•Transfer
•Terminate
•Treat
2)Working through your lunch break is a good way to get more done.
•True
•False
3)The Rhode Island System employed workers as young as age
•seven.
•nine.
•twelve.
•fourteen.
4) A lack of resources may lead a company to take which approach to risk mitigation?
•Tolerate
•Transfer
•Terminate
•Treat
5) What type of manufacturing employee is usually in charge of creating work schedules?
•Operator
•Operations manager
•Assembly line worker
•Quality manager
6)The Equal Opportunity Employment laws ensure that all workers
•get regular breaks.
•receive a raise once a year.
•are treated fairly.
•have union rights.
7) A punctual employee has a sense of
•integrity.
•self-discipline.
•pride.
•personal responsibility.
8) Emotions can impede active listening.
•True
•False
9) Data collected as a result of a process is referred to as
•information processing.
•material processing.
•feedback.
•output.
10) The term laissez-faire
comes from the French word meaning
•let do.
•make do.
•make happy.
•be happy.
Answers
Answer:
8.treat people fairly
As would-be Entrepreneur, you are tasked to identify your dreamed business,
one that involves your interests. Indicate who are your potential market, target
market, available market and/or penetrated market. Write your answer in the space
provided.
Answers
Answer:
My dream business is organic poultry farming.
Explanation:
It is my hobby to have different types of hen breeds. So I would like to invest in my hobby. I would like to have breeds of organic hens that will lay more eggs. I will also invest in fancy chickens which are widely used as pet in backyards.
It has great potential for growth, as people are nowadays moving towards organic foods. The organic poultry market has grown from $7.5 billions to $7.7 billions from 2019 to 2020. The growth recorded is almost 2% despite the breakout of virus. People would like to buy fancy chickens as pets because they lay eggs and look cute in the backyards.
The return on fancy chicken breed is much higher than an ordinary chicken breed that only lays egg. I will start from 1500 baby chickens and will around 50 chicken tractors in a large 8 kanal area. This chicken tractors will help me to keep the death rate of the chickens low and are helpful in lowering the spread of diseases. Furthermore, it is moveable which means my chickens will have fresh grass to eat.
I will buy a small van that will be helpful in managing the delivery of food requirement and egg supply to my customers. To lower the cost of organic feed I will grow many types of plants, herbs, grass, etc in the 8 kanal area that will meet the protien requirements of the chickens. I will also water the land daily so that the waste of the chickens are accessed very quickly to plants.
Their many other tactics that could be used like leasing the land for 2 years because it will lower the investment required, plantation of plants that will grow its value over time, use of thick sheets that will protect chickens from and use of thin sheet that will protect them from mosquitos, etc.
Note: I wasn't able to access complete questions so I think the above explanation of business idea will be very helpful for you to construct a business plan.
If you find the answer very helpful then don't forget to rate it. Thanks
A business model is a document that describes all the phases necessary for the effective operation of a business and the achievement of objectives, such as the business line, value proposition, potential market, etc.
Assuming that your dream business is creating a cafeteria near a college, we can identify the components of the venture:
Potential market:
Part of the market you hope to attract in the future.
Young people and adults aged 15 to 35 years old from neighboring cities.Target market:
The segment of individuals most likely to become your consumer.
Young students at XX College, aged between 17 and 27 years old.Available market:
It is the metric used to define the number of people able to buy your products.
Penetration market:
Evaluates the use of its products and services by its customers in relation to the products and services of its competitor
Therefore, when starting a business, you must analyze the viability of the business through a business model and plan that seeks to offer value to your potential market.
It is necessary to segment your market according to the consumer profile to develop a marketing plan that attracts, retains and delivers value to the consumer, in order to become well positioned and competitive in the market.
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What type of relationship do a lawyer and a client have?
A) an administrative relationship
B) a labor relationship
C) an agency relationship
D) a tort relationship
Answers
Answer:
An Agency relationship but it's D on Edge
Explanation:
The type of relationship a lawyer and a client have is an agency relationship. Thus option (C) is correct.
What is an agency?An agency is a business, firm, or organization that provides a specific service. Sometimes but not always the agencies also work on behalf of another group, business, or person.
Some agencies work for the private sector like an advertising agencies, employment agencies, and travel agencies. Some are government agencies for example they are part of the public sector.
The advertising agencies, add agencies, or creative agencies are firms that focus on creating, planning, and handling advertising. In fact, some employment agencies belong to the government; therefore, they may also be in the public sector.
The type of relationship a lawyer and a client have is an agency relationship. Therefore, option (C) is correct.
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It is standard procedure to reject a job offer during the interview so you do not waste the time of the interviewer.
Please select the best answer from the choices provided
T
F
Answers
Answer:
False.
Explanation:
In an interview for a job, there is no specific rule to be followed that an interviewee must follow. An interview is a perfect time to get to know more about the company's needs and also to advertise yourself.
But in case the job is no something that you like, then you must call the interviewer back and thank them for their time and also tell them the reason for the job rejection. Moreover, it is unethical to abruptly decline any job offer. Also, rejecting a job during the interview is not a standard procedure, for it will only make you seem more unethical and disrespectful.
Therefore, it is not true that rejecting a job on the spot during an interview is a standard procedure.
the answer would be false !! :'D
Many workplace safety rules are created by which government agency?
Answers
Answer:
Legislation
Explanation: The Occupational Safety and Health Act of 1970 created OSHA, which sets and enforces protective workplace safety and health standards. Employers also must comply with the General Duty Clause of the OSH Act, which requires them to keep their workplaces free of serious recognized hazards.
What is the meaning of business opportunity
Answers
Answer:
A business opportunity (or bizopp) involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business. ... This is different from the sale of an independent business, in which there is no continued relationship required by the seller.
hope this help you!! ;)))
Please help me don’t write if you don’t know how to solve it
Answers
Answer:
see below
Explanation:
1. Business Revenue
Revenue is the income generated from normal business operations. In this case, normal business operations are selling T-shirts.
The shop sold 25 t-shirts at 70 Dhs each.
Revenue is quantity sold multiplied by sales price
i.e., Revenue = quantity sold x selling price per unit
=70 x 25 Dhs
=1,750 Dhs
2. Business total cost
Costs are the expenses incurred in producing goods intended for sale.
The cost of producing one t-shirt is 15 Dhs.
The cost of producing 70 t-shirts will be.
Total cost = total quantity produced x unit cost
= 70 x 15 Dhs
=1,050 Dhs
3. Business profit
Profit is the income earned from business operation after deducting the cost from the revenues.
I.e., profits = revenue - cost
For this shop
profits = 1,750 Dhs - 1,050 Dhs
Profits = 700 Dhs
It may seem surprising that the CEO selected to replace Steve Jobs was hired from within the firm. When considering who to appoint as CEO, the board had to consider many factors. What condition existed at Apple that would have suggested a preference to hire from outside? a. Apple's need to reverse recent poor performance b. Appreciation of Apple's culture and core values c. Apple's need to continually innovate d. The need for the CEO to know the firm's core competencies as well as be able to develop new ones
Answers
Answer:
C Apple's need to continually innovate
Explanation:
Organisation personnel can be hired through internal recruitment - from within the organisation, or through external recruitment - from outside the organisation.
Internal Recruitment has advantage of fresh, new talented people with creative, innovative ideas. External Recruitment has advantage of no need to introduce & orient existing people with organisation culture, rules etc.
Apple condition existed, suggesting to hire from outside : Apple's need to continually innovate
Apple condition existed, favouring replacing CEO from within the firm : The need for the CEO to know the firm's core competencies as well as be able to develop new ones
Which of the following would most likely cause a decrease in the quantity supplied?
An increase in competition
An increase in price
A decrease in price
A decrease in competition.
Answers
How does cultural knowledge help a company achieve success?
Answers
Which of the following is most likely to be a primary data source:
a. A sales invoice
b. A customer record
c. An expense report
d. A customer survey
Answers
Answer:
d. A customer survey
Explanation:
Data collected by researchers for the first time for a specific study is primary data. A customer survey is a method of collecting primary data. A customer survey gathers information on the research topic directly from respondents.
Primary data like surveys are costly and consume time to collect, unlike secondary data. Other methods of collecting primary data include administering questionnaires, direct or indirect personal interviews, field observations, and experiments.
rship
If two or more people own a business equally, it is called a
O corporation
O sole proprietorship
O partnership
O limited liability company
Answers
Answer:
Partnership
Explanation:
A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.
Preston wants to be an accountant. When he decides on a college education, which would be the best choice for this career?
community college with an earned associate’s degree
state college with an earned bachelor’s degree
graduate school with an earned master’s degree
graduate school with an earned doctorate degree
Answers
Answer:
Your answer is A. community college with an earned associate’s degree.
Explanation:
Bookkeeping, Accounting, and Auditing Clerks require less education. They often have a high school degree and sometimes an associate degree or vocational education or experience.
Preston wants to be an accountant. When he decides on a college education, community college with an earned associate’s degree would be the best choice for this career. Thus, option (a) is correct.
What is career?The term career is related to the experience and knowledge gain in person life. The career are set is beneficial for person in future life. Career are built with the help of different courses. The career built with the help of good education, developed skills, and more experience of work life. A person career are create good personality.
According to the case, the Preston was the interested to the accountant. Preston was the decided the on a college education was the best choice of the career is the community college with an earned associate’s degree or occupation education or occurrence. The accounting was the related to the entry of the bookkeeping.
As a result, the significance of the career are the aforementioned. Therefore, option (b) is correct.
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Fees
Annual Fee $30
Transaction Fees Balance tranfers—$10 or 3% of the transaction (whichever is greater)
Cash advance—$10 or 3% of the transaction (whichever is greater)
Penalty Fees Late fee: $35
Over-the-credit-limit: $35
Returned payment: $25
Based on the Schumer Box, what is the transaction fee on a cash advance of $300?
$35
$30
$25
$10
Answers
Answer:
$10
Explanation:
The cash advance fee is quoted as $10 or 3% of the transaction fee, whichever is greater.
The cash advance, in this case, is $300.
the transaction fee will be 3% of 300
= 3/100 x $300
=0.03 x $300
=$9
$10 is greater than $9; therefore, the transaction fee will be $10
Answer:
D
Explanation:
took the test
Which of the following is NOT apart of the international business environment.
A. Geography
B. Economics
C. Debt Owed
D. Culture
Answers
What is the most difficult part of being a leader?
Answers
Answer:
Guiding everyone else to success
Explanation:
The hardest part about being leader is to lead people with different personalities to work together for the achievement of the objective.
What are the difficulties of being a leader?A good leader is only good as long as he can unite people and motivate them to work together for one purpose.
The hardest things to manage as a leader is to handle the conflict among the employees by avoiding biasness or favoritism.
One of the toughest aspects of leadership is delegating authority as people are very complicated.
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PLEASE HELP YOU DONT HAVE TO ASNWER ALL OF IT IF YOU CANT
1. Describe the nature and types of business.
2. What are the economic factors influencing the communication industry as a whole, and how does this impact the economic base?
3. Explain ethical conduct and describe one way you exhibit ethical conduct.
4. Describe copyright laws in relation to fair use of materials and duplication materials.
Answers
Answer:
All answer is nou XDDDDDDDDDDDDDD
Which type of ways and result in low moral amongst employees
Answers
-job security issues;
-lack of recognition/appreciation;
-uncertain business conditions;
-workplace bullying/harassment;
-limited upward mobility;
-lack of fair compensation;
-lack of clarity in job expectations;
-poor/cruel leadership;
-micromanagement, and;
-extra working hours.
Fifty (50) years ago, scientists used computers that filled up an entire room.
O True
O False
Answers
Answer:
true
Explanation:
Identify what type of unemployment each of the individuals faces. James is an architect who has been laid off owing to a slump in the demand for property. He feels he will have to wait until the economy picks up before he can get a new job. James is facing structural unemployment. Eric is an experienced project manager who lost his job at a tech start-up because the company's product failed to become popular. He is confident he can get a new job and has already rejected a number of offers. Eric is facing cyclical unemployment. Craig lost his job several months ago. He is having a hard time finding a job that pays him more than unemployment insurance does.
Answers
Answer:
James is facing cyclical unemployment
Eric is facing frictional unemployment
Craig is facing structural unemployment
Explanation:
Cyclical unemployment is unemployment that occurs as a result of fluctuations in the economy. When there is a down turn in the economy, unemployment increases and when there is a boom, unemployment decreases
Frictional unemployment is the time a person is unemployed between the time he leaves his job and the time he gets another one.
Structural unemployment is a type of unemployment that occurs when there is a mismatch between the skills a worker has and the jobs that are available
A "good," according to the UCC is defined as _____.
identified at the time of contract
in existence at the time of the contract
moveable
all of the above
Answers
moveable
A good is a thing that can be given to the other party and is identified at the time of contract but need not be in existence at the time (like in crop futures) and not all identified things are goods (like services).
Please mark as Brainliest if you found this helpful.
Answer:
all of the above
Explanation:
i just took the test and that's the only explainable answer choice
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax’s sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $300,000. During 2021, Halifax sold merchandise on account for $11,500,000. Halifax’s merchandise costs it 65% of merchandise selling price. Also during the year, customers returned $450,000 in sales for credit, with $250,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 4% of sales, are recorded as an adjusting entry at the end of the year. Required: 1. Prepare the entry to record the merchandise returns and the year-end adjusting entry for estimated returns. Note: Record the estimated returns at net amounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account f
Answers
Answer:
1. Prepare the entry to record the merchandise returns and the year-end adjusting entry for estimated returns.
to record returns from last year's sales:
Dr Refund liability 250,000
Cr Accounts receivable 250,000
Dr Inventory ($250,000 x 65%) 162,500
Cr Cost of goods sold 162,500
to record return liability for current year's sales:
Dr Sales returns and allowances ($11,500,000 x 4%) 460,000
Dr Refund liability 460,000
Dr Refund liability 200,000
Cr Accounts receivable 20,000
Dr Inventory ($200,000 x 065%) 130,000
Cr Cost of goods sold 130,000