If the money wage rate rises relative to the price level, firms ________ the quantity of labor they demand and workers ________ the quantity of labor they supply

A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease


C

Economics

You might also like to view...

Ad valorem tariffs are

A) import taxes stated in ads in industry publications. B) import taxes calculated as a fixed charge for each unit of imported goods. C) import taxes calculated as a fraction of the value of the imported goods. D) the same as import quotas. E) import taxes calculated solely on the origin country.

Economics

Dumping refers to selling a commodity abroad at a price that is below its cost of production or below the price charged in the domestic market

a. True b. False

Economics

When cash or coins are deposited in a transactions account at a bank, the size of M1 changes.

Answer the following statement true (T) or false (F)

Economics

Refer to the accompanying table. To increase output from 33 to 66 units requires ________ extra employee(s) per day; to increase output from 66 to 99 units requires ________ extra employee(s) per day.Output Per DayNumber of Employees Per Day00331662994132716511

A. 1; 2 B. 2; 4 C. 1; 1 D. 2; 1

Economics