Typically If Real Wages Fall,the Quantity Demanded of Labor Rises

question 91

Multiple Choice

Typically if real wages fall,the quantity demanded of labor rises.If workers agree to 3% wage increases for a four-year period and inflation is more than 3%,then,based on this information alone:

• A) workers will have higher real wages because they get paid more.
• B) the quantity demanded of labor will increase, because real wages fell.
• C) workers must experience money illusion.
• D) the quantity demanded of labor will fall.
• E) the demand, but not the quantity demanded, for labor will fall.

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Definitions:

Different Mothers

A phrase that indicates siblings who share one parent in common, typically referring to those who have the same father but different mothers.

Monozygotic Twins

Monozygotic Twins are twins that develop from one zygote that splits and forms two embryos, also known as identical twins, sharing nearly 100% of their genetic material.

Dizygotic Twins

Also known as fraternal twins, are siblings born at the same time as a result of the fertilization of two different eggs by two different sperms.

Genes

Units of heredity made up of DNA that are responsible for the inherited characteristics in living organisms, dictating the development and functioning of organisms.