Answer:
The answer is: B) the supply of workers, and the demand curve is the demand for their labor.
Explanation:
In the labor market;
The supply curve represents the amount of labor that the workers are willing to offer at different price levels (wages).
The demand curve represents the number of workers that businesses are willing and able to hire at different wages.
Answer:
The correct answer is (B)
Explanation:
Economics is a study of the market and human behaviour. Economists usually use historical data, conduct interviews and surveys to find a pattern to predict and forecast. In economics, it is almost impractical to conduct laboratory experiments because laboratory experiments leave out various aspects of reality and leave out relevant variables. Furthermore, It is difficult to find a way to use a laboratory experiment to predict and forecast.
Answer:
d. The nominal interest rate was 6 percent and the inflation rate was 1 percent.
Explanation:
Nominal interest rate = real interest rate + inflation rate
Real interest rate is nominal interest rate less inflation rate. The real interest rate represents the real purchasing power of interest paid.
If the interest rate buys 5 percent more goods ,it means that the purchasing power and the real interest rate is 5 percent.
The nominal interest rate is 6 %
Inflation rate = nominal interest rate - real interest rate
= 6% - 5% = 1%
I hope my answer helps you.