What does the phrase "wages are sticky" mean?
A. Wages stick to unemployment rates.
B. Wages are always changing.
C. Wages never change.
D. It is difficult to change wages in the short term.
Answer: D
Economics
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If income increases or the price of a complement falls, the
A) demand curve for a normal good shifts leftward. B) demand curve for a normal good shifts rightward. C) supply curve of a normal good shifts leftward. D) supply curve of a normal good shifts rightward.
Economics
What is the equilibrium price and quantity under a monopsony?
a. P = 200 and Q = 20 b. P = 240 and Q = 20 c. P = 260 and Q = 24 d. P = 280 and Q = 26
Economics