Economists maintain that the wage rate that workers should really care about is
a. both the real wage rate and the nominal wage rate
b. the nominal wage rate
c. the nominal wage rate multiplied by the real wage rate
d. neither the real wage rate nor the nominal wage rate
e. the real wage rate
E
You might also like to view...
There are two major Internet service providers in Eduland. One company has a market share of 60% and the other firm has a market share of 40%. The Herfindahl-Hirschman Index for this industry is ________
A) 100,000 B) 1,200 C) 5,200 D) 100
Moving along the short-run aggregate supply curve, ________
A) the real wage rate is constant B) real GDP equals potential GDP C) the money wage rate, the prices of other resources, and potential GDP remain constant D) real GDP equals nominal GDP
If demand is taken into account, firms that use cost-plus pricing can adjust price by
A) letting sales fall, but hold the markup constant if demand falls. B) lowering markups on price-elastic goods and raising markups on price-inelastic goods. C) letting sales rise, but hold the markup constant if demand rises. D) raising markups on price-elastic goods and lowering markups on price-inelastic goods.
The hospital insurance component of Medicare provides full coverage for extended time periods
Indicate whether the statement is true or false