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Q: When price level rises the number of dollars needed to buy a representative basket of goods?
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Continue Learning about Economics

The minimum number of legislators needed to conduct official business?

Quorum


Inflation value of 7.2 million dollars in the year 1867 to current time?

A basket of goods and servicesthat cost £7,200,000.00in quarter 3 of 1867would have cost$728,524,590.16in quarter 3 of 2010Total percentage change4,959.2%Number of years difference143.00Compound average annual rate2.8%Decline in purchasing power98.0%Index value for 1867 quarter 3 is22.0Index value for 2010 quarter 3 is1111.0


What is Money wage rate?

The money wage rate is the number of dollars that an hour of labor earns.


A higher currency makes a country's exports more expensive?

It has to do with exchange rates. Consider the US and Canada. If one US dollar is worth $1.50 Canadian, then US dollars buy 50% more Canadian products than an equal number of Canadian dollars would. But if the value of the Canadian dollar rises, so that it is worth the same as an American dollar, then American dollars buy only the same amount of Canadian products as an equal number of Canadian dollars.


What is the value of 300 dollars in 1907 compared to today in 2010?

In 1907 gold was twenty dollars an ounce. Assuming toady it is one thousand dollars an ounce, there is a difference. 300 dollars in 1907 would have been worth 15 ounces of gold. So if you take that 15 ounces of gold and turn it into dollars today, you would have 15,000. Things are not equal. You could not buy a car. You could take a number of long train rides. A steak dinner was less than a dollar.

Related questions

Representative IM Wright argues that tariffs are important for a number of reasons?

Why are tariffs needed to protect our young industries


In Number the Stars what is in the basket?

A handkerchief


Was there meat in Annemarie's basket in the story Number the Stars?

No, there was no meat in Annemarie's basket in the story "Number the Stars." Her basket contained mainly bread and other basic supplies that were being delivered to her uncle's family.


Theres 50 night crawlers and 5 baskets how many night crawlers in each basket?

10 in each basket - but only if there are the same number in each basket.


What is the number of the us representative?

435


What is a whole number using dollars?

It is a number of dollars where that number is an integer.


What is the value of forbes silver co basket numbered 208?

What is the value of Forbes silver Co. flower basket number 353


Number ofolympic basket teams in the qualifying rounds?

about 50


What is the number of representitives in the representative house?

452


What is the number of votes in the house of representative determined by?

The number of representatives voting.


How many are needed?

270 electoral votes in the Electoral College are needed to win the U.S. presidency. Each state has electoral votes equal to the total of the 2 representative the state has in the U.S. Senate plus the number of representative the state has in the House of Representatives. Since every state has two senators and at least one representative to the House, every state has at least 3 electoral votes. The District of Columbia gets 3 electoral votes. Therefore, the total number of electoral votes is 538 - 100 (senators) + 435 (representatives) + 3 (for DC). A majority is 270 - one more than half of the total number of 538.


How many electoral are needed?

270 electoral votes in the Electoral College are needed to win the U.S. presidency. Each state has electoral votes equal to the total of the 2 representative the state has in the U.S. Senate plus the number of representative the state has in the House of Representatives. Since every state has two senators and at least one representative to the House, every state has at least 3 electoral votes. The District of Columbia gets 3 electoral votes. Therefore, the total number of electoral votes is 538 - 100 (senators) + 435 (representatives) + 3 (for DC). A majority is 270 - one more than half of the total number of 538.