In the above figure, the economy is at point A and the money wage rate rises by 10 percent. If the price level is constant, firms will be willing to supply output equal to
A) less than $16.0 trillion.
B) $16.0 trillion.
C) more than $16.0 trillion.
D) Without more information, it is impossible to determine which of the above answers is correct.
A
Economics
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Which of the following is a component of the incomes approach to GDP?
A) consumption expenditure B) wages and salaries C) investment D) government expenditure on goods and services
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Today, the United States charges an average tariff rate
A) which is greater than any other high-income country. B) that is more than its average tariff rate in 1930. C) of less than 1.5 percent. D) that exceeds 50 percent.
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