If the real wage needs to decrease to restore equilibrium in a labor market, this can happen by
A) keeping the nominal wage constant and allowing deflation to allow the real wage to decline.
B) keeping the nominal wage constant and allowing inflation to allow the real wage to decline.
C) raising the nominal wage and allowing deflation to allow the real wage to decline.
D) raising the nominal wage so long as there is no inflation occurring in the economy.
B
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According to the Application, what advantages occur as a result of granting ownership of a dwelling to its occupant?
A) increased incentives for property maintenance B) potential increase in the market value of the property C) increased investment in housing repairs D) all of the above
Which word or phrase best completes the following sentence? Marginal analysis means evaluating ________ changes from a current situation
a. positive or negative b. infinite c. maximum d. no