-In the Above Figure, the Economy Initially Is at Point

question 376

Multiple Choice

-In the above figure, the economy initially is at point A and then an increase in the quantity of money moves the economy to point D. The money wage rate will

• A) rise because a labor shortage now exists.
• B) fall because a labor shortage now exists.
• C) rise because a labor surplus now exists.
• D) fall because a labor surplus now exists.

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