Multiple Choice
Other things being the same, if the demand for labor is inelastic,
A) decreases in wage rates will result in greater payrolls.
B) increases in wage rates will result in greater payrolls.
C) increases in wage rates will result in smaller payrolls.
D) decreases in wage rates will increase both employment and worker incomes.
Correct Answer:
Verified
Correct Answer:
Verified
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