The equilibrium real wage is 25, the MS equals 15, and k=3. If equilibrium output is...
The equilibrium real wage is 25, the MS equals 15, and k=3. If equilibrium output is 10 then the equilibrium nominal wage is？
a.3.
b.4.5.
c..22*
d.5
The answer is c, please give the answer step in detail.
Homework Answers
k = 1/V (k=3,given) implying V=1/3
We know, MV=PY the fisher equation.
M=15, V=1/3 and Y=10.
P=1/2
If W/P or real wage = 25
Then nominal wage or W=25xP= 25x1/2 = 12.5
W=12.5
Add Answer to:
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