Multiple Choice
Which of the following statements is (are) true?
I.As the real wage rate increases,the household's income decreases,which influences people to work more hours.
Ii.As the real wage rate increases,the quantity of labor demanded increases.
Iii.As the real wage rate increases,the opportunity cost of not working increases.
A) i only
B) ii only
C) iii only
D) i and iii
E) i,ii,and iii
Correct Answer:

Verified
Correct Answer:
Verified
Q34: Explain how the labor market and the
Q301: Which of the following variables is used
Q302: A diagram of a productivity curve has<br>A)real
Q303: The quantity of labor supplied increases as
Q304: The Rule of 70 can be used
Q305: Firms hire more labor as long as<br>A)the
Q307: The productivity curve<br>A)has a positive slope.<br>B)has a
Q308: When the labor market is in equilibrium
Q309: At full employment,actual _ equals _.<br>A)nominal GDP;potential
Q310: The real wage rate is $35 an