Multiple Choice
In the classical macroeconomic model,a decrease in the real wage would cause
A) a decrease in the marginal product of labor and an increase in the quantity demanded for labor.
B) an increase in the marginal product of labor and an increase in the quantity demanded for labor.
C) no change in the quantity demanded for labor.
D) an increase in both the supply of and demand for labor.
Correct Answer:
Verified
Correct Answer:
Verified
Q40: What two principles of mercantilism did the
Q41: According to the classical model,workers chose a
Q42: Classical economists<br>A)focused on the role of money
Q43: The increased willingness of women to enter
Q44: Figure 3.1<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3748/.jpg" alt="Figure 3.1
Q46: If the wealth effect of an increase
Q47: Using a graph of the classical labor
Q48: If real wages fall as output rises,then
Q49: To classical economists,it is always true that<br>A)there
Q50: Which of the following is not consistent