« previous next »

Author Question: If the wealth effect of an increase in the real wage was greater than the substitution effect of an ... (Read 86 times)

anshika

  • Hero Member
  • *****
  • Posts: 510
on: Jun 30, 2018
If the wealth effect of an increase in the real wage was greater than the substitution effect of an increase in the real wage
 
  a. the labor supply curve would slope upward.
  b. the labor supply curve would slope downward.
  c. the labor supply curve would be vertical.
  d. the labor demand curve would solely determine the real wage.

Question 2

A decrease in the price level, holding the nominal money supply constant, will shift the LM curve
 
  a. upward and to the right.
  b. downward and to the left.
  c. downward and to the right.
  d. upward and to the left.


6ana001

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

The Increase in Divorce The Increase in Divorce
First-Pass Effect: Oral Drug Is Metabolized to an Inactive Form Before It Has an Opportunity to ... First-Pass Effect: Oral Drug Is Metabolized to an Inactive Form Before It Has an Opportunity to ...
How to use the discriminant to determine the value of k in a quadratic with no real roots How to use the discriminant to determine the value of k in a quadratic with no real roots
Substitution, Linear Systems Substitution, Linear Systems
The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato
Video: Hormonal regulation of pregnancy - weeks 17 through 38

For a complete list of videos, visit our video library