In the coordination failure model, a rightward shift in the labor supply curve
A) increases the real wage and increases employment.
B) increases the real wage and decreases employment.
C) decreases the real wage and increases employment.
D) decreases the real wage and decreases employment.
D
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
The market supply in the short run for the perfectly competitive industry is
A) the same as each producer's supply. B) the sum of the supply schedules of all firms. C) divided up according to each firm's selling price. D) set at the maximum price a buyer will pay for one unit. E) equal to the average of each firm's supply schedule.
The coefficient of determination measures the proportion of the variation in the independent variable that is "explained" by the regression line
a. true b. false
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Real GDP b. GDP price index c. Real risk-free interest rate d. Required reserve ratio e. Quantity of real credit per time period