Downward wage rigidity:
A) leads to frictionless labor markets.
B) causes the wage to be above the market clearing wage.
C) helps lower unemployment.
D) is common only in industries with strong labor unions.
B
Economics
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In the simple circular flow model, total income in one nation must equal
A) the sum of wages, rents, interest and profits. B) the yearly amount earned by that nation's resources. C) the total monetary value of all final goods and services. D) All of the above are correct.
Economics
Suppose that the local hospital claims that the wages of nurses are too high. Yet, the hospital has 10 nursing positions open and no applicants for the jobs. Is the hospital's claim legitimate? Why or why not?
What will be an ideal response?
Economics