Households increase the quantity of labor supplied when
A) the real wage rate increases.
B) the real wage rate decreases.
C) job opportunities increase.
D) the nominal wage decreases and the price level rises.
E) income taxes increase.
A
You might also like to view...
Using the textbook's production function, an increase in A requires that one percent more labor working with ________ capital produces more ________
A) an unchanged amount of, real GDP B) an unchanged amount of, real GDP per labor input C) one percent more, real GDP D) one percent more, real GDP per labor input
Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. What combinations of customers can Anna expect?
a. High value, high value b. High value, low value c. Low value, low value d. All of the above