The ________ explanation for the existence of downwardly sticky wages emphasizes the contention that workers in one industry may be unwilling to accept a wage cut, unless they know that workers in other firms and industries are receiving similar cuts.
A. relative-wage
B. living-wage
C. nominal-wage
D. minimum-wage
Answer: A
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Why does an increase in supply lead to lower prices?
What will be an ideal response?
Explain how the following will affect the supply curve of coffee
a) A fall in the wages paid to coffee workers b) An increase in the availability of high-yielding coffee plants c) A decrease in the quantity of land under coffee cultivation
Risky transactions are those in which:
A. one party withholds information from the other party and uses that to his advantage. B. one party to a transaction uses the other party's lack of information to their advantage. C. there is an balance of information between buyer and seller. D. complete information is not available.
Firms that automatically enroll their employees in retirement plans, giving them the option to opt-out instead of to opt-in, is an example of a form of behavioral economics known as
A) the endowment effect. B) network externality. C) nudges. D) anchoring.