Downward wage rigidity arises when:
A) workers expect wages to increase due to economic expansion.
B) workers and firms resist to wage cuts.
C) firms resist increasing wages.
D) quantity of labor demanded exceeds the quantity of labor supplied.
B
Economics
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The equation of exchange is a(n)
a. identity relating the volume of transactions at current prices to the stock of money times the turnover rate of each dollar. b. "truism" and by itself does not explain the variables it contains. c. identity relating the volume of transactions at base year prices to the stock of money times the turnover rate of each dollar. d. Both a and b e. Both b and c
Economics
The term "utility" means
a. satisfaction b. a low-valued good c. productivity d. adaptability e. efficiency
Economics