A decrease in the real wage rate
A) shifts the labor demand curve rightward.
B) shifts the labor demand curve leftward.
C) shifts the labor supply curve leftward.
D) none of the above because a change in the real wage rate does not shift either the labor demand or labor supply curve.
Question 2
Real GDP
A) fluctuates from year to year but is always below potential GDP.
B) fluctuates around potential GDP.
C) grows at a constant 3 to 4 percent per year.
D) can be called potential GDP when it is adjusted for price changes.
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