An increase in the supply of labor has the effect of decreasing the
a. wage.
b. marginal product of labor.
c. value of the marginal product of labor.
d. All of the above are correct.
d
You might also like to view...
If the nominal interest rate is 6% and the inflation rate is 9%, then the real interest rate is
A) -3%. B) 3%. C) 6.67%. D) 15%.
Monetary policy credibility has the benefit of ________
A) stabilizing inflation in the short run when faced with positive demand shocks B) stabilizing economic activity in the short run when faced with positive demand shocks C) transmitting the effect of aggregate demand shocks onto short-run aggregate supply D) enhancing the job opportunities of Federal Reserve officials after they leave the central bank
If transfer payments increase then we would most likely conclude what about government spending as a result of this increase?
A. Government spending would not change if transfer payments increase. B. We cannot reasonably conclude anything about government spending. C. Since transfer payments have gone up this has caused government spending to increase. D. Since transfer payments have gone up this has caused government spending to decrease.
Refer to Table 8-17. What is real GDP in 2016, using 2011 as the base year?
A) $3,320 B) $3,690 C) $6,360 D) $7,035