Suppose the money wage rate and the price level both fall by 5 percent. As a result
A) the quantity of labor demanded increases.
B) the quantity of labor demanded decreases.
C) the quantity of labor demanded does not change because there is no change in the real wage.
D) people are worse off and there is more unemployment.
C
Economics
You might also like to view...
A demand curve displaying the relationship between the price of cars and the quantity demanded of cars should have a slope that is
a. less than 0. b. between zero and 1. c. between one and infinity. d. undefined.
Economics
All of the following are true about a monopolist EXCEPT
A) the demand curve for its product is perfectly elastic. B) it produces a product with no close substitutes. C) its demand curve is the same as the market demand for the industry. D) it is a single seller of a good or service.
Economics