Multiple Choice
For this question,assume expectations of P and A are correct.Now suppose that there is a 3% reduction in A.Given this information,which of the following will occur?
A) the PS relation will shift up by 2%.
B) the WS relation will shift down by less than 2%.
C) the WS relation will shift down by 2%.
D) there will be no change in the real wage.
Correct Answer:
Verified
Correct Answer:
Verified
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