Question - the following table shows a workers wages annual, Ask an Expert

Economics

Question - The following table shows a worker's wages (annual salary), from 2007 to 2010:

Years	Annual Salary	CPI (base 100=2005)
2007	7524	109
2008	8208	119
2009	8892	125
2010	9234	130

a) Calculate the time-series data that reflects changes in wages of workers taking 2007 as the reference or base year. Interpret the results you have got for the last two years.

b) Calculate the wages the worker has received in "real value", expressed in constant currencies from the year 2007.

c) Calculate the time- series data that reflects changes in real wages throughout the periods considered (constant currencies from 2007), and that allows us to compare them with the values obtained in quesion a). What conclusions can be drawn?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M93118215

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question consider pats pizza restaurants production

Question: Consider Pat's Pizza Restaurant's production decision in both the short-run and long-run. Pat wants to improve the productivity of the firm in the long run. Explain the types of input costs that might be fixed ...

Question explain how a firm in a competitive market

Question: Explain how a firm in a competitive market identifies the profit-maximizing level of production. When should the firm raise production, and when should the firm lower production? The response must be typed, sin ...

Question consider an economy that only produces hamburger

Question: Consider an economy that only produces hamburger patties (H) and onions (O). There are two consumers Ron and Dave. Ron likes to consume his hamburger patties and onions in a 1:1 ratio, while Dave likes two onio ...

Question what amount of money is equivalent to receiving

Question: What amount of money is equivalent to receiving $13,000 five years from today, if the interest rate is 9% per year compounded semiannually? The response must be typed, single spaced, must be in times new roman ...

Question consumers problem ed is a programmer who has

Question: Consumer's Problem Ed is a programmer, who has preferences over the consumption good and leisure given by U(C, l) = Cl. He needs to use at least 8 hours a day for sleep, eating, etc., but he can in principle wo ...

Question explain how it is possible for an economy in the

Question: Explain how it is possible for an economy in the recovery phase of the business cycyle to have a lower GDP and higher unemployment rate than when it was in the recession phase of the business cycle. The respons ...

Question read the article the truth about mystery shopping

Question: Read the article, The truth about mystery shopping. At the end of the article click on How to conduct a proper mystery shop and read it as well. Then post your answer to the question: Mystery shoppers, do they ...

Question what are the major arguments against globalization

Question: What are the major arguments against globalization? What are the major arguments in favor of globalization? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow t ...

Assignment consider a team that you have been a member of

Assignment: Consider a team that you have been a member of. This can be a work team, sports team, school team etc. Explain the purpose of the team, the group task functions, the individual task functions, and if the team ...

Question the us economy slowed down sharply in the latter

Question: The US economy slowed down sharply in the latter half of 2000, and the actual recession started early in 2001. Monetary policy eased sharply throughout 2001, and for the first half of the year, fiscal policy di ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert