Suppose the money wage rate rises from $40.00 to $46.74 an hour and consumer prices rises by 14 percent. What would be the effect in the labor market? hours. We would expect people to try to find a job and employed people to want to work O A. fewer; shorter O B. fewer; longer O C. the same number of; the same number of O D. more; longer The would O A. quantity of labor supplied; increase B. supply of labor; increase OC. supply of labor; decrease O D. quantity of labor supplied; decrease
Suppose the money wage rate rises from $40.00 to $46.74 an hour and consumer prices rises by 14 percent. What would be the effect in the labor market? hours. We would expect people to try to find a job and employed people to want to work O A. fewer; shorter O B. fewer; longer O C. the same number of; the same number of O D. more; longer The would O A. quantity of labor supplied; increase B. supply of labor; increase OC. supply of labor; decrease O D. quantity of labor supplied; decrease
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter26: Factor Markets: With Emphasis On The Labor Market
Section26.2: The Labor Market
Problem 3ST
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Transcribed Image Text:Suppose the money wage rate rises from $40.00 to $46.74 an hour and consumer prices rises by 14 percent. What would be the effect in the labor market?
We would expect
people to try to find a job and employed people to want to work
hours.
O A. fewer; shorter
B. fewer; longer
C. the same number of; the same number of
D. more; longer
The
would
A. quantity of labor supplied; increase
O B. supply of labor; increase
O C. supply of labor; decrease
O D. quantity of labor supplied; decrease
Click to select your answer.
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