In the classical model, an increasing demand for labor will
a. cause an expansion with higher employment and a higher real wage.
b. cause a shortage of labor because the labor market always clears.
c. cause a recession with lower employment and a lower real wage.
d. cause a recession because wages are fixed in the short run.
e. cause an expansion with lower employment and a higher real wage.
A
You might also like to view...
Under the average-cost inventory method, to determine the average cost per unit:
What will be an ideal response?
Quotas are generally against the law and are only used when mandated by a court to remedy long-standing discrimination by a particular entity
Indicate whether the statement is true or false
In a zero-sum game, ________
A) each player earns a zero payoff irrespective of the strategy one chooses B) each player has a dominant strategy C) each player chooses a pure strategy D) one player's loss is another player's gain
When marginal product __________ average product, average product must be ______________.
A. is greater than; increasing B. is greater than; decreasing C. is less than; increasing D. Any of these is possible.