If the Price Level Rises by 2 Percent and Workersʹ

question 206

Multiple Choice

If the price level rises by 2 percent and workersʹ money wages increase by 2 percent, then the

• A) quantity of labor supply decreases.
• B) quantity of labor supplied does not change because there is no change in the real wage rate.
• C) quantity of labor supply increases.
• D) More information about the dollar change in the price level and money wage rate are needed to answer the question.

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