2. The real wage is the return to labor measured in: O a. dollars. b. units of output. O c. units of labor. d. units of capital.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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*2. The real wage is the return to labor measured in:
a. dollars.
b. units of output.
c. units of labor.
d. units of capital.
*3. In examining the impact of fiscal policy, it is assumed that:
a. consumption, investment, and the interest rate are endogenous variables.
b. consumption, investment, and the interest rate are exogenous variables.
c. government purchases, taxes, and interest rates are endogenous variables.
d. government purchases, taxes, and interest rates are exogenous variables.
Transcribed Image Text:*2. The real wage is the return to labor measured in: a. dollars. b. units of output. c. units of labor. d. units of capital. *3. In examining the impact of fiscal policy, it is assumed that: a. consumption, investment, and the interest rate are endogenous variables. b. consumption, investment, and the interest rate are exogenous variables. c. government purchases, taxes, and interest rates are endogenous variables. d. government purchases, taxes, and interest rates are exogenous variables.
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