1.

Suppose the wage of an industrial worker follows a path given by S =x2 and inflation rate during the same time is given by I=ex where x is the time in months. What can you say about his standard of living provided all other factors remain constant? Give reasons behind your observations.

Answer»

Suppose the wage of an industrial worker follows a path given by S =x2 and inflation rate during the same time is given by I=ex where x is the time in months. What can you say about his standard of living provided all other factors remain constant? Give reasons behind your observations.




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