When the economy enters into a recession, your employer is ________ to reduce your wages because ________
A) likely; aggregate demand is vertical in the long run
B) unlikely; lower wages reduce productivity and morale
C) likely; output prices always fall during recession
D) unlikely; output and input prices generally fall during recession
B
Economics
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The percentage change in the quantity supplied in response to a percentage change in the price is known as the
A) slope of the supply curve. B) excess supply. C) price elasticity of supply. D) All of the above.
Economics
The concept of surplus can:
A. show who loses from minimum wage. B. show the benefits of introducing new markets. C. show who benefits from a tax. D. show any of these.
Economics