Author Question: If real wages fall as output rises, then in the classical model it must be the case that a. labor ... (Read 118 times)

plus1 · **on:** Jun 30, 2018

If real wages fall as output rises, then in the classical model it must be the case that

a. labor demand rose.
b. labor demand fell.
c. labor supply rose.
d. labor supply fell.
e. none of the above.

Question 2

The ratio of retirees to workers who make contributions to the Social Security system ________.

A) has increased over the years
B) increased as a result of the baby boom following World War II, but has subsequently declined
C) has fallen with the decline in U.S. birth rates
D) determines the size of contributions to the system