Based on Wage- Setting Behaviour, We Know That an Increase

question 66

Multiple Choice

Based on wage- setting behaviour, we know that an increase in the unemployment rate will cause:

• A) a downward shift of the WS curve.
• B) no change in the real wage.
• C) an upward shift of the WS curve.
• D) a decrease in the real wage.
• E) an increase in the real wage.

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Definitions:

Bonds

Financial instruments issued by governments or corporations to raise funds, representing a loan made by the investor to the issuer.

Money Supply

The combined economic financial resources at a given time in an economy.

Interest Rate

The part of a loan that is added as interest for the borrower, normally expressed as an annual percentage of the existing loan balance.

Reserve Ratio

The reserve ratio is the fraction of total deposits that a bank is required to hold in reserve and not loan out, acting as a regulatory tool to ensure the stability of the banking system.