Multiple Choice
If the relative price of one product rises and labor is
Mobile, then:
A) the percentage increase in the equilibrium real wage will be exactly the same as the percentage increase in
The relative price.
B) the percentage increase in the equilibrium real wage will be lower than the percentage increase in the relative
Price.
C) the percentage increase in the equilibrium real wage will be higher than the percentage increase in the
Relative price.
D) the equilibrium real wage will not change.
Correct Answer:
Verified
Correct Answer:
Verified
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