Answer: Option (d) is correct.
Explanation:
Option (d) - Raises the quantity of labor supplied and reduces the quantity of labor demanded.
When a union raises the wage above the equilibrium level, this will lead to increase the quantity of labor supplied because at this wage more labors wants to work and take the advantage of the higher wages.
At the same time, quantity demand for labor decreases in the economy. This is due to the higher wages which increases the firm's cost of production. So, at this wage firm's demand for labor decreases.
Considers only initial capital investments.
An increase in the velocity of the money refers to a situation when the rate of changing leads to hand rises and ultimately results in an increase in the price level, indicating an inflation.
<h3>What is velocity of money ?</h3>
Velocity of money refers to a method with the help of which the movement of the money in an economy can be measured. When the number of hands changing money increases, there is an economic growth.
So, option C; states that there is an increase in the velocity of money when the rate at which money changes hands rises, the price level also increases.
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