If firms seek an average markup of 25% over labor costs,and this is consistent with labor demands at the natural rate,then in the long run
A) real wages will be 25% of the price level
B) prices will be 4 times greater than wages
C) wages will rise 80 cents for every $1 increase in prices
D) wages will fall 25 cents for every $1 increase in prices
E) prices will rise 25 cents for every $1 increase in wages
Correct Answer:
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Q1: The labor force participation rate is defined
Q2: When the unemployment rate is below the
Q3: The rate of unemployment will be higher
Q4: The most accurate measurement of unemployment
A) is
Q5: The replacement ratio is defined as
A) The
Q7: Which of the following would not give
Q8: The marginal product of labour is defined
Q9: Which of the following is the least
Q10: If a firm's marginal product of labor
Q11: Increases in labor productivity from improved technology
A)
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