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 and iii
B) iii only
C) i only
D) i, ii, and iii
E) ii only
Correct Answer:
Verified
Q37: Potential GDP
A)is another name for real GDP.
B)can
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A)saying you are
A)possible cause of
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