If the following Phillips curve equation represents an economy; 60 – 6u t = 3 t – 3 t-1 what would the natural rate of unemployment be?
September 3, 2020
What kinds of questions does economics address? What are the principles of how people make decisions? What are the principles of how people interact?…
September 3, 2020

Workers are compensated by firms with “benefits” in addition to wages and salaries. The most prominent benefit offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $20 per hour and in addition received health benefits at the rate of $4 per hour. Also suppose that by 2010 workers at that plant were paid $21 per hour but received $9 in health insurance benefits. If workers value a dollar of health benefits as much as they value a dollar of wages, by what total percentage will they feel that their incomes have risen over this time period?Instructions: Enter only whole numbers for your answer.What %?

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