The increased willingness of women to enter the workforce has most likely lead to
a. an increase in labor demand, higher real wages, and a lower price level.
b. an increase in labor supply, higher real wages, and a lower price level.
c. an increase in labor supply, higher real wages, and a higher price level.
d. a decrease in labor demand, lower real wages, and no effect on the price level.
e. none of the above.
B
You might also like to view...
Which of the following pairs of goods are likely to be considered complements?
A) Pens and writing pads B) Laptops and electric heaters C) Motorcycles and typewriters D) Nokia and Samsung cell phones
Because banking is very __________-intensive, a bank generally becomes successful if it can __________ the ratio of salary and wages to total assets
A) capital; raise B) capital; lower C) labor; raise D) labor; lower
Supply-side economists argued that, given existing tax laws, the high inflation of the 1970s
a. lowered the effective tax rate on corporate income. b. did not have any effect on the aggregate supply curve. c. raised the effective tax rate on corporate income. d. may have raised but probably lowered the effective tax rate on corporate income. e. both b and c.
A recent study at a liberal arts college concluded that demand elasticity is 0.91 for college courses. The administration is considering a tuition increase to help balance the budget. An economist might advise the school to: a. decrease tuition in order to increase revenue by boosting enrollment
b. increase tuition in order to increase revenue. c. leave tuition unchanged as a change in tuition is unlikely to enhance the school's budget by increasing revenue. d. decrease tuition because demand for courses is elastic.