Suppose the wage rate in the labor market is $8 and more people entered the labor force,which of the following statements is CORRECT?
A) If wages are flexible,then wages will increase.
B) If wages are sticky,the unemployment rate increases.
C) If wages are sticky,the unemployment rate stays the same.
D) If wages are flexible,the unemployment rate increases.
Correct Answer:
Verified
Q38: Refer to the information provided in Figure
Q39: Refer to the information provided in Figure
Q43: Which of the following may shift the
Q57: Which of the following may shift the
Q62: The classical view of the labor market
Q65: According to the classical economists, those who
Q70: If firms start offering more employment benefits,
Q80: Those who believe that wages adjust quickly
Q82: Classical economists believe that economic policies are
Q124: Suppose the wage rate in the labor
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents