If the money wage rate does not change, a decrease in the price level will ________ the real wage rate and ________ firms' profit
A) raise; increase
B) lower; decrease
C) lower; increase
D) raise; decrease
E) lower; not change
D
You might also like to view...
Using the table above, for which of the following levels of employment does the average product of labor exceed the marginal product of labor at Decent Donuts?
A) ten workers B) seven workers C) both of the above D) neither of the above
Where Y is GDP, C is consumption, I is investment, G is government spending, T is net taxes, and there is no international trade, private saving equals:
A. Y - T - C. B. Y -T - G. C. C + I + G - T. D. Y - C - I.
How can a rubber band be used to explain elasticity and inelasticity of demand?
Please provide the best answer for the statement.
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is true?
A. April has both an absolute and comparative advantage in painting kites. B. April has both an absolute and comparative advantage in painting snowboards. C. April has neither an absolute nor comparative advantage in painting kites. D. April has neither an absolute nor a comparative advantage in painting snowboards.