Which of the following is a result of increased real wages in the United States?
a. a decrease in the quantity of services demanded by households
b. an increase in the opportunity cost of remaining employed in the home
c. a decrease in the opportunity cost of working outside the home
d. a decline in the number of households providing labor outside the home
e. reduced use of labor-saving devices in households
B
You might also like to view...
If the full-employment level of real GDP is greater than the equilibrium level of real GDP, the nation would be experiencing a(n)
A) inflationary gap. B) recessionary gap. C) demand-pull inflation. D) rising prices.
The Clayton Act was passed in:
a. 1887. b. 1890. c. 1914. d. 1936. e. 1952.
What is the interest rate on a 12-month U.K. certificate of deposit if the dollar return on the certificate is 4 percent and the dollar has appreciated 9 percent against the British pound?
a. 15 percent b. 13 percent c. 9 percent d. 5 percent e. 4 percent
What is the rate of decrease in marginal utility for each successive slice of pizza?
a. 2
b. 4
c. 6
d. 10