If the real wage rate is such that the quantity of labour supplied equals the quantity of labour 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:
Verified
Q1: The labour demand curve slopes downward because
A)workers
Q2: According to the new growth theory, competition
A)reduces
Q3: All of the following lead to more
Q4: Real GDP grows when
A)Only I
B)Only II
C)Both I
Q6: A problem with the neoclassical growth theory
Q7: Which theory emphasises the significance of new
Q8: If real GDP is $800 million and
Q9: We are interested in long- term growth
Q10: The gaps between the Australia and the
Q243: According to new growth theory_ .
A) knowledge
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