If the equilibrium wage is above the actual wage:
A. the demand for labor will increase.
B. the demand for labor will decrease.
C. the wage rate will fall.
D. the wage rate will rise.
Answer: D
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Which of the following will make the real-world money multiplier smaller than the theoretical formula?
a. Banks actually hold fewer reserves than technically required by the Fed. b. Banks actually make loans for more money than they have in excess reserves. c. Banks may keep some excess reserves rather than loan it all out. d. Both a. and b. above are correct.
If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by increasing the price
a. True b. False Indicate whether the statement is true or false
If a nation is going to achieve and sustain a high rate of economic growth, it must
What will be an ideal response?
Refer to the graph shown. The marginal rate of substitution at point C is:
A. 1. B. 1.5. C. 2/3. D. impossible to determine with the information given.