If wages are "sticky downwards", then this means that during periods of high unemployment, wages will:

(Consider This) The prisoner's dilemma reveals that:

A. collusive agreements will always fail. B. the price leadership model does not work. C. nonprice competition is more profitable than price competition. D. sometimes when individuals act independently in their own self-interest, everyone is worse off than if they had cooperated.

Suppose that a bond having no expiration date has a face value of $10,000 and pays a fixed amount of interest of $1000 annually. Compute and enter in the spaces provided either the effective interest rate which a bond buyer could receive at the new price or the bond price (rounded to the nearest $1000) required to receive the interest rate shown.