Use the Following to Answer Questions

question 107

Multiple Choice

Use the following to answer questions.
Exhibit: Aggregate Production Function, Labor Market, and LRAS
-(Exhibit: Aggregate Production Function, Labor Market, and LRAS) In the long run, any price level is consistent with a real wage of $40,000 because

• A) real wage is perfectly flexible.
• B) the labor force is perfectly mobile.
• C) nominal wage is perfectly flexible.
• D) nominal wage is sticky.

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