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Suppose the money wage rate rises from ​$40.00 to ​$46.20 an hour and consumer prices rises by 10 percent. What would be the effect in the labor​ market? We would expect​ _______ people to try to find a job and employed people to want to work​ _______ hours.     A. fewer​; shorter   B. more​; longer   C. the same number of​; the same number of   D. fewer​; longer The​ _______ would​ _______.     A. quantity of labor​ supplied; decrease   B. supply of​ labor; decrease   C. quantity of labor​ supplied; increase   D. supply of​ labor;

Suppose the money wage rate rises from ​$40.00 to ​$46.20 an hour and consumer prices rises by 10 percent. What would be the effect in the labor​ market? We would expect​ _______ people to try to find a job and employed people to want to work​ _______ hours.     A. fewer​; shorter   B. more​; longer   C. the same number of​; the same number of   D. fewer​; longer The​ _______ would​ _______.     A. quantity of labor​ supplied; decrease   B. supply of​ labor; decrease   C. quantity of labor​ supplied; increase   D. supply of​ labor;

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose the money wage rate rises from
​$40.00
to
​$46.20
an hour and consumer prices rises by
10
percent. What would be the effect in the labor​ market?
We would expect​ _______ people to try to find a job and employed people to want to work​ _______ hours.
 
 
A.
fewer​;
shorter
 
B.
more​;
longer
 
C.
the same number of​;
the same number of
 
D.
fewer​;
longer
The​ _______ would​ _______.
 
 
A.
quantity of labor​ supplied; decrease
 
B.
supply of​ labor; decrease
 
C.
quantity of labor​ supplied; increase
 
D.
supply of​ labor;
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