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If the price level increases, but workers' money wage rates remain constant,which of the following is TRUE?
I. The quantity of labor demanded will increase.
II. The real wage rate will decrease.
III. The demand for labor curve shifts rightward.
Federal Budget
The government's estimate of revenue and expenditure for a specific fiscal year.
Fiscal 2009
Refers to the government's financial year 2009, which varies by country but typically encompasses a 12-month period used for accounting and budget purposes.
Laissez-faire
An economic philosophy advocating minimal government intervention in the market and the economy, allowing businesses to operate with few regulatory constraints.
High Unemployment
This term refers to a situation where a significantly larger portion of the workforce is without jobs, indicating economic distress or a recession.
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