Workers whose wages tend to adjust slowly include all of the following EXCEPT:
A. union workers.
B. unskilled, low wage workers.
C. those with long-term contracts.
D. movie stars, professional athletes, and rock stars.
Answer: D
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Which of the following is likely to happen if investors in an economy become optimistic following the discovery of huge mineral reserves?
A) Unemployment will increase. B) Consumption will increase. C) Real wages will fall. D) Prices will fall.
In the 1800s, early agricultural activity in the U.S. used the technology of the time which was based on
(a) handwork and animal power. (b) waterpower and the steam engine. (c) the internal combustion engine and electric motor. (d) large-scale enterprises using water driven machinery.
Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast
a. opinion polling b. barometric forecasting c. econometric forecasting d. time-series forecasting e. none of the above
When quantity demanded decreases at every possible price, the demand curve has
a. shifted to the left. b. shifted to the right. c. not shifted; rather, we have moved along the demand curve to a new point on the same curve. d. not shifted; rather, the demand curve has become flatter.