An adverse oil-price shock reduces labor demand. What happens to current employment and the real wage rate?
A) Both employment and the real wage rate would increase.
B) Both employment and the real wage rate would decrease.
C) Employment would increase and the real wage would decrease.
D) Employment would decrease and the real wage would increase.
B
Economics
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Scarcity always exists because
a. machines and people are inefficient. b. changes have occurred in global weather patterns. c. our needs and wants are not limited, but our resources are limited. d. there are more poor people than rich people.
Economics
Diseconomies of scale are illustrated graphically by an upward shift of the firm's long-run average cost curve
Indicate whether the statement is true or false
Economics