Lec1720220324 - 1-2

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School
University of the Fraser Valley **We aren't endorsed by this school
Course
BUSI 601
Subject
Economics
Date
Oct 13, 2023
Pages
2
Uploaded by MagistrateFinchMaster604 on coursehero.com
Example-1 m Meghan spends all of her money on paper books and coffees. In 2012, she earned $12.00 per hour, the price of a paper book was $6.00, and the price of a cup of coffee was $2.00. m Meghan's nominal hourly wage? m Meghan''s real hourly wage in terms of coffees ? m Meghan's real hourly wage in terms of paper books ? m The nominal price of a paper book? m The real price of of a paper book in terms of coffees? Principles of Macroeconomics 645
Example -2 m Meghan spends all of her money on paper books and coffees. In 2022, she earned $18.00 per hour, the price of a paper book was $9.00, and the price of a cup of coffee was $3.00. m Meghan's nominal hourly wage? m Meghan''s real hourly wage in terms of coffees ? m Meghan's real hourly wage in terms of paper books ? m The nominal price of a paper book? m The real price of of a paper book in terms of coffees? Principles of Macroeconomics 646
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