Suppose There Is a Rise in the Price Level, but No

question 57

Multiple Choice

Suppose there is a rise in the price level, but no change in the money wage rate. As a result, the quantity of labor demanded

• A) decreases only if the money wage rate also decreases.
• B) increases.
• C) does not change because there is no change in the real wage rate.
• D) decreases.

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