It is possible that an increase in wages will lead to a decrease in the quantity of labor supplied.

Answer the following statement true (T) or false (F)


True

Economics

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External economies of scale will ________ average cost when output is ________ by ________

A) reduce; increased; the industry B) reduce; increased; a firm C) increase; increased; a firm D) increase; increased; the industry E) reduce; reduce; the industry

Economics

U.S. imports are goods that are

a. produced in other countries b. consumed in other countries c. sold in other countries d. produced in the U.S. e. exported from the U.S.

Economics

The GDP deflator of an economy is calculated by:

a. dividing nominal GDP by real GDP and multiplying by 100. b. dividing real GDP by nominal GDP and multiplying by 100. c. dividing nominal GDP by real GDP and multiplying by 1,000. d. dividing real GDP by nominal GDP and multiplying by 1,000.

Economics

If aggregate demand increases while aggregate supply is stable, aggregate output will ________ and the unemployment rate will ________.

A. decrease; increase B. increase; decrease C. decrease; decrease D. increase; increase

Economics