When the economy enters a recession, your employer is unlikely to reduce your wages because ________ during a recession
A) output and input prices generally fall
B) output prices always fall
C) output prices generally fall and input prices generally rise
D) lower wages increase your incentive to find employment elsewhere.
D
Economics
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The term "stagflation" was invented in the 1970s to describe an economy experiencing both
a. deflation and economic stagnation. b. inflation and economic stagnation. c. high inflation and high employment. d. high inflation and high levels of economic growth.
Economics
Economic growth allows a society to consume
A. a higher quality of goods. B. a wider variety of goods. C. more goods per person. D. all of the above.
Economics