If the Price Level Falls and the Money Wage Rate

question 32

Multiple Choice

If the price level falls and the money wage rate does not change, some firms ________ and there is ________.

• A) shut down; a leftward shift of the aggregate supply curve
• B) shut down; a decrease in potential GDP
• C) start up; a rightward shift of the aggregate supply curve
• D) shut down; a decrease in the quantity of real GDP supplied
• E) start up; an increase in potential GDP

Comprehend how career and occupational assessments fit within broader educational and psychological contexts.

Understand and identify the difference between interest inventories, multiple aptitude tests, and special aptitude tests.

Classify various psychological tests into their correct categories.

Recognize the purpose and application of the Self-Directed Search.

---

Definitions:

Labor Standards

Regulations and laws prescribing the minimum conditions (such as wages, hours, safety) that employers must provide to workers.

Developing Countries

Nations with a lower standard of living, undeveloped industrial base, and lower Human Development Index relative to other countries.

Social Justice

The pursuit of fairness and equity within society in terms of the distribution of wealth, opportunities, and privileges.

WTO

The World Trade Organization, an international body that regulates international trade agreements and aims to ensure smooth, free, and predictable trade flows.