Which of the following is generally true of nominal wages?
Fill in the blank(s) with the appropriate word(s).
Nominal wages tend to adjust slowly in the downward direction.
Economics
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Vertical contracts often result in
a. Higher prices b. Lower prices c. Unchanged prices d. None of the above
Economics
The chairman of the Board of Governors of the Federal Reserve System is appointed by the Senate and approved by the President
a. True b. False
Economics
A price floor keeps a price:
a. from rising above a certain level. b. from decreasing below a certain level. c. at a stabilized point. d. from increasing or decreasing.
Economics
Commandeering resources is less efficient than commandeering money
Indicate whether the statement is true or false
Economics