In the labor market, as wages rise, households
A) decrease the quantity of labor supplied.
B) increase the quantity of labor supplied.
C) decrease the quantity of labor demanded.
D) increase the quantity of labor demanded.
E) increase the supply of labor.
B
You might also like to view...
Suppose Bob works for Mary as a proofreader. Mary and Bob fall deeply in love, marry, and have eight children. Bob stops working for Mary in order to care for the children. What will be the effect on GDP?
A) GDP will not change. B) GDP will increase. C) GDP will decrease. D) GDP may increase or may decrease depending on inflation.
According to the National Bureau of Economic Research, the "two most reliable comprehensive estimates of aggregate domestic production" are ________ when dating the beginning and ending of recessions
A) the level of employment and monthly payroll data B) industrial production and wholesale and retail sales C) gross domestic product and gross domestic income D) real manufacturing production and the natural rate of unemployment