If the price level increases, but workers' money wage rates remain constant,which of the following is TRUE?
I. The quantity of labor demanded will increase.
II. The real wage rate will decrease.
III. The demand for labor curve shifts rightward.
A) I only
B) I and II
C) II and III
D) I, II and III
B
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A Giffen good could be either a normal good or an inferior good
Indicate whether the statement is true or false
When a household's disposable income falls to zero, what do we expect will happen?
A) The household's consumption spending also falls to zero. B) The household will maintain a positive level of saving. C) The household will maintain its previous level of consumption. D) Consumption will fall to the level of autonomous consumption.
The largest labor union in the United States is the
A) National Education Association. B) International Brotherhood of Teamsters. C) United Food and Commercial Workers International Union. D) Service Employees International Union.
The Keynesian view is that the aggregate supply curve is vertical
a. True b. False Indicate whether the statement is true or false