Suppose We Wish to Examine the Determinants of the Equilibrium

question 18

Multiple Choice

Suppose we wish to examine the determinants of the equilibrium real wage and equilibrium level of employment (N) .In a graph with the real wage on the vertical axis,and the level of employment on the horizontal axis,the wage-setting relation will now be

• A)a vertical line.
• B)a horizontal line.
• C)an upward sloping line.
• D)a downward sloping line.
• E) a curve that first slopes upward, then downward.

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Definitions:

Mercantilism

An economic theory and practice common in Europe from the 16th to the 18th century, emphasizing national economic interests and the accumulation of wealth through a favorable balance of trade.

Colbert

Jean-Baptiste Colbert was a French politician who served as the Minister of Finances of France under King Louis XIV, known for his policies aimed at increasing the wealth and power of France through mercantilism.

New France

The area colonized by France in North America during a period extending from the exploration of the Saint Lawrence River by Jacques Cartier in 1534 to the cession of New France to Spain and Britain in 1763.

Women

Female human beings, who have historically played various roles across societies, facing distinct challenges and contributing to the cultural, political, and social development of human civilization.