If the Real Wage Rate Is Such That the Quantity

question 417

Multiple Choice

If the real wage rate is such that the quantity of labor supplied by workers is less than the quantity of labor demanded by firms,

• A) real GDP equals potential GDP since firms make the decision on how many workers to hire.
• B) the real wage rate will decrease.
• C) the economy is at full employment.
• D) the unemployment rate is less than the natural unemployment rate.

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Definitions:

Visual Centers

The regions in the brain, particularly within the occipital lobe, responsible for processing visual information.

Temporal Lobes

Regions of the brain located at the sides of the brain, involved in processing auditory information and essential for memory, speech, and emotional responses.

Autonomic Nervous

The part of the nervous system that innervates cardiac muscle, smooth muscle, and gland cells, controlling functions unconsciously and regulates bodily functions like heart rate and digestion.

Peripheral Nervous

Part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.