Your boss gives you an increase in the number of dollars you…

Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage decreased your real wage increase. If your real wage rose by a greater percentage than the price level, then your nominal wage also increased your real wage decrease. If your real wage rose by a greater percentage than the price level, then your nominal wage decreased

Imagine that the economy is in long-run equilibrium. Then, p…

Imagine that the economy is in long-run equilibrium. Then, perhaps because of improved international relations and increased confidence in policy makers, people become more optimistic about the future and stay this way for some time.   Refer to Optimism. Which curve shifts and in which direction? aggregate demand shifts right aggregate demand shifts left aggregate supply shifts right aggregate supply shifts left

Suppose you will receive $500 at some point in the future. I…

Suppose you will receive $500 at some point in the future. If the annual interest rate is 5 percent, then the present value of the $500 is 1. $411.26 if the $500 is to be received in 5 years and $338.95 if the $500 is to be received in 10 2 . $348.28 if the $500 is to be received in 5 years and $242.60 if the $500 is to be received in 10 3. $291.11 if the $500 is to be received in 5 years and $272.89 if the $500 is to be received in 10 4. $291.11 if the $500 is to be received in 5 years and $236.49 if the $500 is to be received in 10