In the current period a perceived increase in the real wage, will cause households to:
a. work more.
b. consume less leisure.
c. consume more goods.
d. all of the above.
Answer: d. all of the above.
Economics
You might also like to view...
If the Fed decreases the monetary base by $100 million and the money multiplier is 4, M1 will
A) rise by $400 million. B) fall by $400 million. C) rise by $25 million. D) fall by $25 million.
Economics
If the price in U.S. dollars for one Singapore dollar is 0.625 U.S. dollars, then the price in Singapore dollars for one U.S. dollar is:
a. 1.0 Singapore dollars. b. 0.625 Singapore dollars. c. 1.6 Singapore dollars. d. 0.375 Singapore dollars. e. 2.66 Singapore dollars.
Economics