How many units of capital would you hire?
4 units of land
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Suppose the money wage rate and the price level both fall by 5 percent. As a result
A) the quantity of labor demanded increases. B) the quantity of labor demanded decreases. C) the quantity of labor demanded does not change because there is no change in the real wage. D) people are worse off and there is more unemployment.
Which of the following countries are net lenders?
I. Japan II. United States A) I only B) II only C) both I and II D) neither I nor II
If $1000 was deposited in a bank and the reserve requirement is 0.10, how much is available for loans?
A) $900 B) $910 C) $920 D) $930
In the classical model, a decrease in immigration would
a. decrease labor supply, increase the real wage, and decrease output. b. increase labor supply and the real wage, and decrease output. c. increase labor demand and the real wage, and increase output. d. reduce real wages and reduce output.