If the supply of labor ________, real wages rise and the amount of labor employed ________.
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
Correct Answer:
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Q18: _ unemployment rises and falls with economic
Q19: _ unemployment occurs naturally in the labor
Q20: Consider a two-input production function, one of
Q21: Suppose the stock of capital remains constant.
Q22: As the result of an increase in
Q24: A wage rate that is adjusted for
Q25: In equilibrium, the quantity of labor demanded
Q26: As more efficient capital equipment becomes available,
Q27: If a firm decreases its capital stock,
Q28: As the result of a decrease in
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