Refer to Table 17-1. Suppose the output price is $3. If the firm represented in the table is maximizing its profit by hiring six workers, what is the wage rate?
A) $120
B) $65
C) $40
D) There is insufficient information to answer the question.
A
Economics
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On the long-run aggregate supply curve,
A) an increase in the price level increases the level of potential GDP. B) an increase in the price level has no effect on the aggregate quantity of GDP supplied. C) an increase in the price level reduces the aggregate quantity of GDP supplied. D) an increase in the price level increases the aggregate quantity of GDP supplied.
Economics
Recent evidence regarding the exchange-rate pass-through effect in the U.S. reflects a declining trend. How can this be explained?
What will be an ideal response?
Economics