A Change in the Money Wage Rate Shifts

question 384

Multiple Choice

A change in the money wage rate shifts

• A) neither the SAS nor the LAS curve.
• B) the SAS curve but not the LAS curve.
• C) both the SAS and LAS curves.
• D) the LAS curve but not the SAS curve.

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Definitions:

Compound Interest

Interest calculated on the original principal and on previously calculated interest.

Simple Interest

Interest estimated only on the starting sum, not accounting for any compounding effects.

Evaluate

To determine or set the value or amount of; appraise.

Simplify

The act of simplifying a math expression or equation to its most basic version.