Real-world firms often meet workers' demands for higher wages because:
A) the majority of workers belong to a labour union.
B) the labour market is highly competitive.
C) the government requires them to do so.
D) it helps maintain morale and prevents turnover of key workers.
Correct Answer:
Verified
Q33: Inflationary gaps result in:
A) higher wage rate
Q34: Differences in countries' adjustments to output gaps
Q35: A reduction in output and the demand
Q36: The persistence of inflation in times of
Q37: Firms are reluctant to make frequent changes
Q39: The Phillips curve shows that the rate
Q40: Suppose that businesses and labour anticipate the
Q41: The Phillips curve suggests that:
A) a trade-off
Q42: The long-run Phillips curve will be vertical
Q43: Which one of the following is not
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