Increases in the real wage will lead workers to supply more hours of labor
Indicate whether the statement is true or false
TRUE
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The $787-billion stimulus package enacted by the federal government in 2009 to try to deal with the Great Recession was intended to
A. push the aggregate expenditures schedule upward. B. close an inflationary expenditures-gap. C. shift the aggregate expenditures schedule down. D. bring inflation down.
When we compare the records of the CPI and the PCE price index over time, the
A) two are very different in magnitude. B) PCE price index tends to exceed the CPI. C) CPI tends to exceed the PCE price index. D) two measures are identical. E) CPI tends to exceed the PCE price index when inflation is high, and the PCE price index tends to exceed the CPI when inflation is low.
An increase in the minimum wage to $6 would cause ____ million people to lose their jobs.
The money wage rate has little effect on the supply curve. It mainly affects the aggregate demand curve.
Answer the following statement true (T) or false (F)