Business, 16.03.2020 17:06 coltonstevens15
Suppose workers notice a fall in their nominal wage but are slow to notice that the price 0fthings (actual
p ‘ce level!) they consume have fallen by the same percentage. They may infer that the reward to working is
é temporarily low and so supply a smaller quantity of labor.
. temporarily low and so supply a larger quantity of labor.
c. temporarily high and so supply a smaller quantity of labor.
d. temporarily high and so supply a larger quantity of labor.
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