If the Price Level Increases, but Workersʹ Money Wage Rates

question 28

Multiple Choice

If the price level increases, but workersʹ money wage rates remain constant,which of the following is TRUE?
I. The quantity of labor demanded will increase.
II. The real wage rate will decrease.
III. The demand for labor curve shifts rightward.

• A) II and III
• B) I and II
• C) I only
• D) I, II and III

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