An increase in the nominal wage will increase potential output. A. False B. True
An increase in the nominal wage will increase potential output.
| A. |
False |
|
| B. |
True |
Homework Answers
ANswer
False
the change in nominal wage has nothing to do with potential output as the increase in nominal wage has no effect on the long-run potential output level. the effect does not change the resources in the economy, also it does not change the labor force.
Add Answer to:
An increase in the nominal wage will increase potential
output.
A.
False
B.
True
Define the nominal wage rate and the real wage rate. Can the nominal wage rate increase...
Define the nominal wage rate and the real wage rate. Can the nominal wage rate increase faster than the real wage rate, if yes, then why? (3 points)
TRUE OR FALSE: As a result of the increase in wage, the firms supply curve will...
TRUE OR FALSE: As a result of the increase in wage, the firms
supply curve will only change if its subsituties towards capital at
each level of output.
6. Substitution effect due to a relative change in input price Аа аа Suppose a firm is initially producing 100 units of output at point B, where the purple line (diamond symbols) labeled Isocosti lies tangent to isoquant IQ (Q = 100). Suppose that initially the wage is $10 and the rental...
9:02 ร LTE 25. Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes a. your nominal wage increase. If your nominal wage rose by a greater percent...
9:02 ร LTE 25. Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes a. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased b. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage decreased c. your real wage increase. If your real wage...
Suppose the minimum wage is increased. Imagine a firm that produces its output with minimum wage...
Suppose the minimum wage is increased. Imagine a firm that produces its output with minimum wage workers and capital. Further suppose it must produce the same level of output both before and after the minimum wage increases. Use the following two statements to answer this question: I. The greater is the elasticity of substitution of labor for capital, the larger will be the number of minimum wage workers who lose their jobs. II. The cost of producing the same level...
Suppose your nominal wage fell and deflation occurred. Did your real wage increase or decrease?
Suppose your nominal wage fell and deflation occurred. Did your real wage increase or decrease?
Suppose your nominal wage fell and deflation occurred. Did your real wage increase or decrease?
Suppose your nominal wage fell and deflation occurred. Did your real wage increase or decrease?
hi can you plzz answer all the true and false question in detail 9. A decrease in a wage taxes causes the opportu...
hi can you plzz answer all the true and false question in
detail
9. A decrease in a wage taxes causes the opportunity cost of leisure to increase. a. True b. False 10 In the typical leisure/consumption model, in the price of the composite consumption good. a. True increase in the wage is equivalent to a decrease an b. False 11. An increase in the interest rate is an increase in the opportunity cost of consuming in the future. a....
Lorrie will receive a nominal wage increase of 25% this year. If the inflation rate turns...
Lorrie will receive a nominal wage increase of 25% this year. If the inflation rate turns out to be 5% this year, her real wage will increase by approximately how many percents?
"An increase in the wage rate always leads to an increase in the number of hours...
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Use the specific factors model. There is an increase the price of the manufactured good by 10%. The nominal wage will O...
Use the specific factors model. There is an increase the price of the manufactured good by 10%. The nominal wage will O Increase by 10%. O Decrease. O Increase by less than 10%. O Increase by more than 10%.
TRUE OR FALSE: As a result of the increase in wage, the firms
supply curve will only change if its subsituties towards capital at
each level of output.
6. Substitution effect due to a relative change in input price Аа аа Suppose a firm is initially producing 100 units of output at point B, where the purple line (diamond symbols) labeled Isocosti lies tangent to isoquant IQ (Q = 100). Suppose that initially the wage is $10 and the rental...
9:02 ร LTE 25. Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes a. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased b. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage decreased c. your real wage increase. If your real wage...
hi can you plzz answer all the true and false question in
detail
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Use the specific factors model. There is an increase the price of the manufactured good by 10%. The nominal wage will O Increase by 10%. O Decrease. O Increase by less than 10%. O Increase by more than 10%.
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