Which of the following statements is true when wages are above the market clearing wage?
A) The larger the gap between the current market wage and the market clearing wage, greater will be the amount of unemployment.
B) At wage rates above the market clearing wage rate, there is an excess demand for workers.
C) At wage rates below the market clearing wage rate, there is an excess supply of workers.
D) The larger the gap between the current market wage and the market clearing wage, smaller will be the amount of unemployment.
A
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In the United States, the inflation rate since 1999 generally was
A) lower than between 1979 to 1981. B) higher than between 1979 to 1981. C) higher than in the 1980s. D) much higher than between 1985 to 1995. E) negative.
Three macroeconomic factors that affect the demand for money are:
A. capital, labor, and technology. B. globalization, skill-biased technological change, and labor mobility. C. the nominal interest rate, real income, and the price level. D. the nominal interest rate, capital, and labor.