Multiple Choice
If the price level rises by 2 percent and workersʹ money wages increase by 2 percent, then the
A) quantity of labor supply decreases.
B) quantity of labor supplied does not change because there is no change in the real wage rate.
C) quantity of labor supply increases.
D) More information about the dollar change in the price level and money wage rate are needed to answer the question.
Correct Answer:
Verified
Correct Answer:
Verified
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