The real wage rate equals
A) (money wage rate)/(price level).
B) (price level)/(money wage rate).
C) (money wage rate) × (price level).
D) (money wage) + (number of hours worked)/(price level).
A
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Describe the choices that consumers make and explain why consumers are efficient on the market demand curve
What will be an ideal response?
The appreciation of one's currency encourages exports
Indicate whether the statement is true or false
The nominal exchange rate is 4 Saudi Arabian riyals, 8 Moroccan dirham, 60 Indian rupees, or .8 euros per U.S. dollar. A fast food breakfast costs $5 in the U.S., 30 riyals in Saudi Arabia, 40 Moroccan dirham in Morocco, 250 Indian rupees in India, and 5 euros in France. According to these numbers, where is the real exchange rate between American and foreign goods the lowest?
a. Saudi Arabia b. Morocco c. India d. Britain
Which of the following examples would cause the most serious unemployment?
a. The minimum wage is increased by 50 percent. b. The minimum wage is increased by 10 percent. c. The minimum wage is decreased by 50 percent. d. The minimum wage is decreased by 10 percent.