1. When constructing the consumer price index, the Bureau of Labor Statistics does not do which of the following? Try to include all the goods and services that the typical consumer buys. Try to weight the goods and services that the typical consumer buys according to how much consumers buy of each item. Survey consumers to determine what the typical consumer buys. Survey sellers to determine what the typical consumer buys asap please ^^ Consternation Corporation has an agreement with its workers to index completely the wage of its employees using the CPI. Consternation Corporation currently pays its production line workers $7.50 an hour and is scheduled to index their wages today. If the CPI is currently 130 and was 125 a year ago, the firm should increase the hourly wages of its workers by $0.04 $0.29 $0.30 $0.50

1. When constructing the consumer price index, the Bureau of Labor Statistics does not do which of the following? Try to include all the goods and services that the typical consumer buys. Try to weight the goods and services that the typical consumer buys according to how much consumers buy of each item. Survey consumers to determine what the typical consumer buys. Survey sellers to determine what the typical consumer buys asap please ^^ Consternation Corporation has an agreement with its workers to index completely the wage of its employees using the CPI. Consternation Corporation currently pays its production line workers $7.50 an hour and is scheduled to index their wages today. If the CPI is currently 130 and was 125 a year ago, the firm should increase the hourly wages of its workers by $0.04 $0.29 $0.30 $0.50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The college graduates of 2000 could hardly have asked for better luck. The unemployment ratedropped to 4.1 % in May 2000- roughly, the lowest level in a generation- and employers wereliterally scrambling for new hires. Starting salaries rose, many graduating seniors had numerousjob offers, and some firms even offered $10,000- $20,000 bonuses to students who signed thedotted line. Discussion:(i) Briefly explain and justify what prevailing situation was taking place in the year 2000.(ii) Identify and explain two fiscal policies and two monetary policies that the USgovernment may have used to correct this situation. (iii) Use a diagram to illustrate the correction measures.
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