23. According to the Neoclassical view, if there is a decline in the demand for labour and no change in labour supply, the labour market can come to equilibrium if a. Banks give out more loans b. There is a higher demand in the economy c. The workers accept real wage declines d. There is an increase in real wage

23. According to the Neoclassical view, if there is a decline in the demand for labour and no change in labour supply, the labour market can come to equilibrium if a. Banks give out more loans b. There is a higher demand in the economy c. The workers accept real wage declines d. There is an increase in real wage

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 6CQQ

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