The labour market clears when:
A) the real wage causes LS = LD.
B) the real wage causes LS to be minimized.
C) the marginal product of labour is zero.
D) the real wage causes LS to be as large as possible.
Correct Answer:
Verified
Q1: The household real budget constraint shows that
Q2: Real profit equals real output plus spending
Q3: The market clearing approach assumes that:
A)people are
Q4: In the goods market in the model
Q6: The real wage is:
A)hourly earning after taxes.
B)wages
Q7: Money in the model of this chapter
Q8: In the model of this chapter prices
Q9: In the rental market in the model
Q10: A bond that is traded in the
Q11: The market clearing approach assumes that:
A)people are
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