Wages are sticky when:
What will be an ideal response?
Labor unions set wage contracts for a certain period of time
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Which of the following formulas is correct?
A) Net investment = gross investment + capital B) Net investment = gross investment - saving C) Net investment = gross investment - wealth D) Net investment = gross investment - depreciation E) Net investment = gross investment + depreciation
The price of a tomato increases and people buy more lettuce. You infer that lettuce and tomatoes are ________
A) complements B) normal goods C) substitutes D) inferior goods
Which of the following is true of sub-Saharan Africa?
a. The poverty rate in the region is low. b. Most of the sub-Saharan African countries rank among the freest economies in the world. c. The poverty rate in sub-Saharan Africa is the highest of any region in the world, and the reduction in the rate during the past quarter of a century has been modest. d. The poverty rate in sub-Saharan Africa is the lowest of any region in the world, and the rate has declined sharply during the past quarter of a century.
Market failure can occur when
A. monopoly power exists in the market. B. markets are missing. C. consumers can influence prices. D. all of these answer options are correct.