Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.
Figure 28.1Refer to Figure 28.1. If the productivity of workers decreases, the equilibrium wage rate
A. would increase to $15.
B. would stay at $15.
C. could change from $9 to $6.
D. could change from $9 to $15.
Answer: C
You might also like to view...
The demographic transition refers to the:
A) decrease in fertility and number of children per family that many societies undergo as they transition from industry to agriculture. B) decrease in fertility and number of children per family that many societies undergo as they transition from agriculture to industry. C) increase in fertility and number of children per family that many societies undergo as they transition from agriculture to industry. D) increase in fertility and number of children per family that many societies undergo as they transition from industry to agriculture.
The unionization rate in the United States has been
A. Declining for over 40 years. B. Increasing for the last 5 years. C. Declining for approximately 15 years. D. Declining for approximately 30 years.