Which of the following is a result of increased real wages in the United States?
a. a decrease in the quantity of services demanded by households
b. an increase in the opportunity cost of remaining employed in the home
c. a decrease in the opportunity cost of working outside the home
d. a decline in the number of households providing labor outside the home
e. reduced use of labor-saving devices in households
B
You might also like to view...
Market interest rates are determined by
a. banks b. Wall Street c. the demand for loanable funds d. the supply of loanable funds e. the demand for and supply of loanable funds
The precautionary motive for holding money reflects the behavior of people who hold money
a. instead of near money b. to transact purchases they expect to make c. as insurance against unexpected needs d. to speculate in the stock market e. to take advantage of anticipated or hoped for changes in interest rates