Author Question: If at the prevailing real wage rate, the quantity of labor supplied exceeds the quantity demanded ... (Read 105 times)

tsand2

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If at the prevailing real wage rate, the quantity of labor supplied exceeds the quantity demanded
 
  A) there is a shortage of labor.
  B) the real wage rate will rise to restore equilibrium.
  C) the real wage rate is greater than the equilibrium real wage rate.
  D) None of the above answers is correct.

Question 2

If the real interest rate rises, people
 
  A) save more.
  B) save less.
  C) earn a higher real wage rate.
  D) decrease their expected future income.



duke02

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Answer to Question 1

C

Answer to Question 2

A



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