Multiple Choice
Households increase the quantity of labor supplied when the
A) real wage rate rises because the opportunity cost of not working falls.
B) nominal wage rate rises because the real wage rate must also rise.
C) real wage rate rises because the opportunity cost of not working rises.
D) nominal wage rate falls because the opportunity cost of not working rises.
E) income tax rises because an increase in the income tax increases the demand for labor.
Correct Answer:
Verified
Correct Answer:
Verified
Q73: The Classical macroeconomic model proposes that<br>A)government intervention
Q74: Potential GDP<br>A)is the same as real GDP.<br>B)is
Q75: Hershey Chocolate Factory pays a money wage
Q76: East Asian economies have grown<br>A)rapidly because of
Q77: The level of real GDP the economy
Q79: Suppose the price of a product is
Q80: If Country A's real GDP grows at
Q81: If capital per hour of labor decreases,real
Q82: Employing an additional 1 billion hours of
Q83: If the U.S.population grew at a 0.9