If the price level rises but the money wage rate does not, then firms will hire labor and the quantity of real gdp supplied will
a) more; increase
b) the same amount of; not change
c) less; decrease
d) more; not change
e) less; increase

A) more; increase

Explanation:

The law of supply states that higher prices lead to an increase in quantity supplied. An increase in prices encourages firms to produce more, sell more to make higher profits. If the wage rate does not increase, firms will hire more workers to increase production.  Firms will profit from a constant wage rate,  with an increase in prices and high production.

GDP is a quantitative measure of the total value of output in a country over time if the prices are high, firms will be encouraged to do more productions. An increase in output increases the value of GDP.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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