Suppose the automaker company, General Motors negotiating a wage contract with the United Auto Workers (UAW) union. Both parties are interested in the real wage, which is the nominal wage corrected for inflation. Suppose that General Motors and the UAW (the United Auto Workers) agree on a wage of $32 per hour to be paid during 2021. Both General Motors and the UAW expected that the price level will increase from 100 in 2020 to 105 in 2021, so the inflation rate will be 5%. We can calculate the expected real wage as follows: (Expected) Real wage = (Nominal wage/Price level) x 100 = ($32/105) x 100 = $30.48
But, the real wage when the actual inflation rate turns out to be only 2% (i. e., the price level rises only to 102 during 2021) will be , which is than General Motors and the UAW had expected. If the actual inflation rate is higher is 7% (i. e., the price level rises to 107 during 2021), the real wage will be , which is than General Motors and the UAW had expected.

Juwana was turned down for a car loan by a local credit union she thought her credit was good what should her first step be

When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."