Which of the following statements is true?
A) If the nominal wage rate increases, the opportunity cost of current consumption decreases.
B) If the unemployment rate increases, the opportunity cost of current consumption decreases.
C) If the real interest rate increases, the opportunity cost of current consumption increases.
D) If the real wage rate increases, the opportunity cost of current consumption decreases.
C
Economics
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Growth in employment occurs only because of increases in labor demand due to government hiring
a. True b. False
Economics
Refer to the above graph, which shows an aggregate demand curve for a hypothetical economy. If the price level is 200, the quantity of real GDP demanded is:
A. $600 billion. B. $700 billion. C. $500 billion. D. $800 billion.
Economics