Solved

If the Real Wage Rate Is Such That the Quantity

Question 116

Multiple Choice

If the real wage rate is such that the quantity of labor supplied equals the quantity of labor demanded,


A) real GDP equals potential GDP.
B) a full-employment equilibrium occurs.
C) the opportunity cost effect of not working equals the income effect.
D) Both answers A and B are correct.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q111: -In the above</p></div><svg width=

Q112: -In the above</p></div><svg width=

Q113: Equilibrium in the labor market
A) cannot occur

Q114: If the labor market is in equilibrium

Q115:

Q117: At the full-employment equilibrium in the labor

Q118: When the quantity of labor demanded exceeds

Q119: -In the figure,</p></div><svg width=

Q120: Full employment corresponds to
A) equilibrium in the

Q121: Dividing the value of real GDP by

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents