If the money wage rate increased from $40.00 to 45.24 and hour and consumer prices rose by 16%, we would expect people to try to find a job and employed people to want to work hours. a. more; longer. b. the same number of; the same number of O c. fewer, shorter. d. fewer; longer would. TheO. a. quantity of labor supplied; decrease. b. quantity of labor supplied; increase. c. supply of labor; decrease. d. supply of labor, increase.

If the money wage rate increased from $40.00 to 45.24 and hour and consumer prices rose by 16%, we would expect people to try to find a job and employed people to want to work hours.

a. more; longer.

The would .

b. quantity of labor supplied; increase.

Explanation:

Generally, when wage rates increase, this will led to an increase in the inflation rate. The problem is what happens if wages increase less than the inflation rate. This means that real wages will actually decrease once we adjust them to inflation. This will cause more people trying to get a job or working longer hours just to be able to pay for the same amount of goods as before.

In this example, the wage rate increased by 13.1%, but the inflation rate increased by 16%, so real wages decreased.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

b is the correct answer