Workers often have ________ contracts and so their wages are ________
A) short-term; sticky B) short-term; flexible
C) long-term; flexible D) long-term; sticky
D
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Refer to the above table. Suppose the marginal revenue product of the 5th worker is $800. This implies that
A) the price of the good is $5.33. B) the price of the good is $8. C) the price of the good is $70. D) we cannot tell what the price of the good is without more information.
The theory of adaptive expectations points out that when a shift in aggregate demand occurs, people and businesses will rationally expect its impact on output and employment to be temporary and its impact on the price level to be permanent
a. True b. False Indicate whether the statement is true or false
Which of the following will limit the money creation process to an amount less than the potential amount?
a. bank pursuit of profits b. increase in currency holdings by the public c. business demand for loans d. increased use of credit cards
During the Great Recession, securitization:
a. Was a major problem because it prohibited mortgage originators from reducing their underwriting mistakes by shifting them investors. b.Was one of the only sources of relief for investors who were suffering heavy losses on their mortgage investments. c. Was a major cause of the moral hazard problem. d. None of the above.