Suppose the full-employment equilibrium real wage rate is $11 per hour while the actual real wage rate is $12 per hour. If the actual real wage rate does not change, then
A) job rationing will decrease.
B) the production function will shift downward.
C) job search will decline.
D) job rationing will occur.
E) a positive Okun Gap will occur.
D
Economics
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MacDougall's results can be interpreted as
A) evidence against the classical model. B) evidence against the Heckscher-Ohlin model. C) support for the classical model. D) support for the Heckscher-Ohlin model.
Economics
Figure 7-5
Which of the curves in Figure 7-5 could be a firm's average fixed cost curve?
a.
(a)
b.
(b)
c.
(c)
d.
(d)
Economics