Wages for some workers do fall during a recession, but it is often:

A. too small of a wage decrease to contribute to economic recovery.
B. only after the worker's current contract expires.
C. only after the worker receives an annual performance evaluation.
D. only after the worker is fired and gets rehired elsewhere at a lower wage.

Ans: D. only after the worker is fired and gets rehired elsewhere at a lower wage.

Economics

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All of the following are benefits of the Fed having only the single goal of price stability EXCEPT

A) the Fed would be more credible. B) the fed would not be distracted and led astray by other concerns. C) there would be greater reliance on fiscal policy for economic stabilization. D) the Fed would be free from political pressures.

Economics

If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long run, then the demand for airline travel is ________ in the short run and ________ in the long run

A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic

Economics