Refer to the figure above. Everything else remaining unchanged, at what rate will the wage be held ...

Author Question: Refer to the figure above. Everything else remaining unchanged, at what rate will the wage be held ... (Read 67 times)

deesands

Hero Member
Posts: 514

on: Jun 30, 2018

Refer to the figure above. Everything else remaining unchanged, at what rate will the wage be held if there is downward wage rigidity in the market, when the demand curve shifts to LD2?

A) 50 B) 30 C) 40 D) 20

Question 2

Suppose the price of a product is 4 and the nominal wage that the firm must pay is 20. Then the firm's real wage is

A) 5. B) 0.20. C) 4. D) 20. E) 80.

jointhecircus

Sr. Member
Posts: 343

Reply #1 on: Jun 30, 2018

Answer to Question 1

A

Answer to Question 2

A

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deesands

Hero Member
Posts: 514

Reply #2 on: Jun 30, 2018

Thank you

jointhecircus

Sr. Member
Posts: 343

Reply #3 on: Jun 30, 2018

No problemo

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