Suppose there is a rise in the real wage rate. As a result, the quantity of labor demanded
A) increases.
B) decreases.
C) does not change because there is no change in the money wage rate.
D) increases only if the price level also decreases.
B
You might also like to view...
A movie at the movie theater is an example of a good that is
a. both non-rival and non-excludable b. both rival and excludable c. rival but non-excludable d. non-rival but excludable e. rival but whose consumption creates negative externalities
If the wage rate were $45, how many workers would be hired?
Among the most important indicators used by the NBER Business Cycle Dating Committee to determine the beginning of the 2007-2009 recession were all of the following except:
A. the consumer price index. B. nonfarm employment. C. total sales in manufacturing, wholesale trade, and retail trade. D. industrial production.
If a country's income is rapidly increasing it must:
A. have a high level of growth. B. have a high level of income. C. have a lot of room to expand. D. be well-endowed with natural resources.