According to Economic Reasoning, If Labor Productivity Increases by 3

question 44

Multiple Choice

According to economic reasoning, if labor productivity increases by 3 percent per year,

• A)the number of jobs should increase by 3 percent per year.
• B)the real wage should increase by 3 percent per year.
• C)the price level should increase by 3 percent per year.
• D)the price level should decrease by 3 percent per year.
• E)nominal wages should increase by 3 percent per year.

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Definitions:

Habituated

The process of becoming accustomed to a stimulus or environment, leading to a decrease in response over time.

Psychotic Disorders

A group of mental disorders characterized by a disconnection from reality, often manifesting as hallucinations, delusions, and disorganized thinking.

Predisposition

An inclination or tendency to display a particular behavior or develop a certain condition in the future, possibly influenced by genetic, environmental, or psychological factors.

Heroin

An opioid drug made from morphine, a natural substance taken from the seed pod of various opium poppy plants, often used illicitly for its euphoric effects.