The lower the real wage rate, the
A) fewer workers firms can profitably hire.
B) more workers firms can profitably hire.
C) more workers will supply labor.
D) higher the nominal wage rate.
E) larger the quantity of labor supplied.
B
Economics
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Suppose you can earn 5 percent on your savings account if you deposit $500 in it. The inflation rate is 3 percent. The opportunity cost of holding the $500 as money is
A) $100. B) $525. C) $80. D) $30. E) $25.
Economics
If a firm can produce a product at a lower average cost than its competitors, it stands a better chance of earning economic profit
Indicate whether the statement is true or false
Economics