Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Please list the equations that you used. Explain in details.
Real Wage20 30 10 50 60 70 80 90 100 110 120 130Labor ( Millions !Question 15The graph above shows the labor market in a country . The horizontal axis measures the numberof workers . Wages and prices are fully flexible . “We know that currently the nominal wage rateequals W = $4,000 and the price level equals F = 100 . If the price level increases by 20%/} , theequilibrium nominal wage will equal :”Equilibrium Nominal Wage = $4, 400VB .Equilibrium Nominal Wage = $4. 500[ .Equilibrium Nominal Wage = $4. 8:00D .Equilibrium Nominal Wage = $5, 000E .None of the above .Question 16The graph above show’s the labor market in a country . The horizontal axis measures the numberof workers . Wages and prices are fully flexible .”We know that currently the nominal wage rate*equals W = $4, 000 and the price level equals P = 100 . Over time , demand for labor increases by40 million workers and supply of labor by 20 million workers . As a result , the equilibrium real wagechanges to`Equilibrium Real Wage = $DVB .Equilibrium Real Wage = TO[ .Equilibrium Real Wage = EDD .Equilibrium Real Wage = 50E .None of the above .
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