Which of the following is a source of wage stickiness?
1. fixed wage contracts
2. minimum wage laws
3. workers and firms want to avoid complexity of negotiating contracts frequently
A. I and III only
B. I and II only
C. I only
D. I, II, and III
Answer: D. I, II, and III
Economics
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Seeking profits without producing anything
A) is called rent-seeking B) is illegal C) usually involves government D) all of these choices
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All of the following are surplus items on the balance of payments accounts EXCEPT
A. U.S. residents purchases of gold from foreign residents. B. foreign tourists spending funds in the United States. C. sales of U.S. dollars to foreign residents. D. exports of merchandise.
Economics