If the Price Level Increases and Workers' Money Wage Rates

question 323

Multiple Choice

If the price level increases and workers' money wage rates remain constant,which of the following will occur?
I. The quantity of labor supplied will decrease.
II. The real wage rate will decrease.
III. The labor supply curve will shift rightward.

• A) I only
• B) I and II
• C) II and III
• D) I, II and III

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