Consider the labor market for short-order cooks. An increase in the wages paid to fast-food workers will cause
a. both equilibrium wages and equilibrium employment to increase in the market for short-order cooks.
b. both equilibrium wages and equilibrium employment to decrease in the market for short-order cooks.
c. equilibrium wages to increase and equilibrium employment to decrease in the market for short-order cooks.
d. equilibrium wages to decrease and equilibrium employment to increase in the market for short-order cooks.
c
Economics
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Describe why monetary policy rules are superior to discretionary monetary policy
What will be an ideal response?
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A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price. B) excess supply at the old equilibrium price. C) increase in quantity demanded. D) All of the above.
Economics