As the wage rate increases,
a. the demand for labor decreases.
b. the demand for labor increases.
c. the quantity demanded for labor decreases.
d. the quantity demanded for labor increases.
c. the quantity demanded for labor decreases.
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An assumption of classical growth theory is that when ________ the population growth rate ________
A) real GDP per person exceeds the subsistence level; increases B) people become more skilled; decreases C) the real wage rate falls; increases D) saving declines; decreases
Although popular opinion frequently portrays trade deficits (actually, account deficits) as "bad," can you present economic reasons why a trade deficit might be considered "good"?
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the net nonreserve international borrowing/lending balance and the monetary base in the context of the Three-Sector-Model? a. The
net nonreserve international borrowing/lending balance becomes more negative (or less positive) and monetary base falls. b. The net nonreserve international borrowing/lending balance becomes more negative (or less positive) and monetary base rises. c. The net nonreserve international borrowing/lending balance becomes more positive (or less negative) and monetary base falls. d. The net nonreserve international borrowing/lending balance and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Bank panics were the result of
A. banks holding 100% of their deposits on reserve. B. depositors attempting to withdraw more deposits than the banks held in reserve. C. banks hoarding greenbacks during the Civil War. D. the United States going off the gold standard in 1933.