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According to classical economists, the real wage rate is ______ to the Marginal Productivity of Labour. -

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Question

According to classical economists, the real wage rate is ______ to the Marginal Productivity of Labour. 

Options

  • Equal

  • More

  • Less

  • None of these

MCQ
Fill in the Blanks

Solution

According to classical economists, the real wage rate is Equal to the Marginal Productivity of Labour. 

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Determination of Equilibrium Income in the Short Run - Macroeconomic Equilibrium with Price Level Fixed
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