If the price level rises by 2 percent and workers' money wages increase by 2 percent, then the
A) quantity of labor supply decreases.
B) quantity of labor supply increases.
C) quantity of labor supplied does not change because there is no change in the real wage rate.
D) More information about the dollar change in the price level and money wage rate are needed to answer the question.
C
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The consumption bundle that is available, if there are no exchanges with the market, is known as the
A. federal system. B. endowment point. C. Ramsey rule. D. gross replacement rate.
A 401(k) account means that the maximum amount of savings that can be deposited is $401,000.
A. True B. False C. Uncertain
In the above figure, which of the following is a possible explanation for the reduction in the equilibrium value of the European euro from P2 to P1?
A) an increase in demand for French automobiles B) the European central bank's decision to buy euros on the world market C) a decrease in the price of California wines, assuming that French wines and California wines are substitutes D) an increase in the price of California wines, assuming that French wines and California wine are substitutes
Historically, which of the following is the most influential factor driving innovation in the hotel industry?
A. Downturns in the economic cycle B. Focus of the populace on travel in general C. Amenity creep D. Importance of innovation as seen by individual property managers E. Whether or not brand equity is seen as important at any given time