Earl Thomas has received a raise from $50,000 a year to $55,000 a year. What was...
Earl Thomas has received a raise from $50,000 a year to $55,000 a year. What was Earl’sraise stated as a percentage? Inflation averaged 3.3% for the year. What was Earl’s real income after the raise? What was Earl’s real raise stated as a percentage?
Homework Answers
Percentage raise of Earl Thomas
Earl's real income after raise
Inflation = 3.3%
Earl's real raise state as percentage
Hope this will help, please do comment if you need any further explanation. Your feedback would be appreciated.
Add Answer to:
Earl Thomas has received a raise from $50,000 a year to $55,000
a year. What was...
Jack accepted a job last year paying $50,000 per year. He just received a raise to...
Jack accepted a job last year paying $50,000 per year. He just received a raise to $55,000 per year. Between last year and this year, consumer prices have increased a total of 10%. We can safely say that: Bill's real income has fallen. Bill's real income has risen. Bill's real income has stayed constant. We don't have enough information to draw any conclusion about Bill's real income.
1. (10 points total) Your best friend in Europe is bragging that he just received a...
1. (10 points total) Your best friend in Europe is bragging that he just received a 10% annual raise. However, you just learned in your economics class that inflation in his country has jumped a full 20% this year. a) How impressed are you with your friend's real raise? b) What is truly his real percentage raise? Explain with words as well as with arithmetic. (The index for deflation is 120 and assume income went from $100 to $110.) C....
Sebastian received a raise this year so his income climbed from $45,000 to $52,000. Last year...
Sebastian received a raise this year so his income climbed from $45,000 to $52,000. Last year Sebastian purchased 2 sunglasses. This year he has purchased 7 sunglasses. Assuming that all of the other things remain constant, what type of a good are sunglasses and what type of income elasticity of demand does Sebastian have? A; The sunglasses are a normal good and the income elasticity of demand is .13. B :The sunglasses are a superior good and the income elasticity...
Meek Mill received a $4,000 raise this year; this increased his salary as an associate music...
Meek Mill received a $4,000 raise this year; this increased his salary as an associate music producer from $35,500 to $39,500. What percentage increase in nominal income did Meek receive? a. 14.6 percent b. 11.3 percent c. 10.1 percent d. 8.2 percent
3. Suppose Reuben earned a salary of $50,000 in 2015 and $55,000 in 2016. (10 points...
3. Suppose Reuben earned a salary of $50,000 in 2015 and $55,000 in 2016. (10 points total) a) The consumer price index was 120 in 2015 and 132 in 2016. What has happened to Reuben's nominal and real income from 2015 to 2016? Show your work. (5 points) b) Suppose Reuben owed student loans that had an interest rate of 3 percent. What was the real interest rate on Reuben's student loans for 2015-2016. Show your work. (5 points)
You graduate from IU and get a job with an annual salary of $50,000. a. (1...
You graduate from IU and get a job with an annual salary of $50,000. a. (1 point) Your boss calls you into the office and says she is happy with your performance and is going to give you a $1,000 raise. What percentage raise is this for you? b. (1 points) If the Inflation Rate is 2.0%, what is the actual amount of your raise?
Question 9 1 pts Which of the following is a characteristic of the Policy-Activism view of...
Question 9 1 pts Which of the following is a characteristic of the Policy-Activism view of economic thought? Government has a responsibility to manage the economy. The economy is inherently stable. All of these answers are characteristics of Laissez-Faire. Competition is the driving force in economic progress D Question 10 1 pts Real GDP provides a better measure of the state of the economy than nominal GDP because: it corrects for the distortion of inflation it includes the value of...
17. Mr. Thomas has $210 income this year and $180 income next year. The market interest...
17. Mr. Thomas has $210 income this year and $180 income next year. The market interest rate is 5% per year. Mr. Thomas also has an investment opportunity in which he can invest $70 this year and receive $90 next year. Suppose Mr. Thomas consumes $90 this year and invests in the project. What will be his consumption next year? $300 $358 $300 $322
Time Value Joe makes $55,000 per year and receives an annual raise of 2.5%. He contributes...
Time Value Joe makes $55,000 per year and receives an annual raise of 2.5%. He contributes 4% to his retirement plan while his employer makes a matching contribution. The retirement plan has an annual growth rate of 8. Joe intends to retire in 25 years. What will Joe's retirement plan be worth when he retires?
In 2018, George, a single individual received taxable wages from his job of $50,000. He also...
In 2018, George, a single individual received taxable wages from his job of $50,000. He also sold his personal vehicle for $3000 that he originally paid $5000 to purchase. George also received an inheritance from his grandmother in the amount of $100,000. His itemized deductions total $8000 for the entire year. George had no other investments or income for the year. What is George's taxable Income?
1. (10 points total) Your best friend in Europe is bragging that he just received a 10% annual raise. However, you just learned in your economics class that inflation in his country has jumped a full 20% this year. a) How impressed are you with your friend's real raise? b) What is truly his real percentage raise? Explain with words as well as with arithmetic. (The index for deflation is 120 and assume income went from $100 to $110.) C....
Meek Mill received a $4,000 raise this year; this increased his salary as an associate music producer from $35,500 to $39,500. What percentage increase in nominal income did Meek receive? a. 14.6 percent b. 11.3 percent c. 10.1 percent d. 8.2 percent
3. Suppose Reuben earned a salary of $50,000 in 2015 and $55,000 in 2016. (10 points total) a) The consumer price index was 120 in 2015 and 132 in 2016. What has happened to Reuben's nominal and real income from 2015 to 2016? Show your work. (5 points) b) Suppose Reuben owed student loans that had an interest rate of 3 percent. What was the real interest rate on Reuben's student loans for 2015-2016. Show your work. (5 points)
Question 9 1 pts Which of the following is a characteristic of the Policy-Activism view of economic thought? Government has a responsibility to manage the economy. The economy is inherently stable. All of these answers are characteristics of Laissez-Faire. Competition is the driving force in economic progress D Question 10 1 pts Real GDP provides a better measure of the state of the economy than nominal GDP because: it corrects for the distortion of inflation it includes the value of...
Time Value Joe makes $55,000 per year and receives an annual raise of 2.5%. He contributes 4% to his retirement plan while his employer makes a matching contribution. The retirement plan has an annual growth rate of 8. Joe intends to retire in 25 years. What will Joe's retirement plan be worth when he retires?
In 2018, George, a single individual received taxable wages from his job of $50,000. He also sold his personal vehicle for $3000 that he originally paid $5000 to purchase. George also received an inheritance from his grandmother in the amount of $100,000. His itemized deductions total $8000 for the entire year. George had no other investments or income for the year. What is George's taxable Income?
Most questions answered within 3 hours.
-
Preparation of Cyclohexene From
Cyclohexanol
organic chemistry
What is the function of each of the following...
asked 11 minutes ago -
***EDIT: This was all the data that was provided.
Please show all work and formulas used!...
asked 13 minutes ago -
Assume that when adults with smartphones are randomly selected,
48% use them in meetings or classes....
asked 37 minutes ago -
A motor spins up from rest to an angular velocity of 165 rad/s
in 1.2 s....
asked 29 minutes ago -
An entomologist sprayed 120 adult Melon flies with a specific
low concentration of malathion and observed...
asked 33 minutes ago -
Suppose that a police car is moving to the right at 27.9 m/s,
while a speeder...
asked 35 minutes ago -
An electric dipole consists of charges +2e and -2e separated by
0.85 nm. It is in...
asked 38 minutes ago -
How many mL of 0.250 M BaCl2 would you need to precipitate all
the sulfate ion...
asked 49 minutes ago -
Calculate the activity of a pure 5.8-μg sample of 3215P
(T12=1.23×106s).
asked 58 minutes ago -
What personality theory and test might a psychologist use for a
small group of elders between...
asked 1 hour ago -
When five capacitors with equal capacitances are connected in
series, the equivalent capacitance of the combination...
asked 1 hour ago -
1.
A corporation manufactures two variants of the same product:
Deluxe (D) and Classic (C). The...
asked 1 hour ago