The data also indicate that wages tend to be downward rigid. This means that a. wage declines are infrequent b. wage increases are infrequent c. wages adjust slowly in both directions d. people are rigid when reporting wages

The data also indicate that wages tend to be downward rigid. This means that a. wage declines are infrequent b. wage increases are infrequent c. wages adjust slowly in both directions d. people are rigid when reporting wages

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 41CTQ: Unemployment rates have been higher in many European countries in recent decades than in the United...

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Question

The data also indicate that wages tend to be downward rigid. This means that

a. wage declines are infrequent

b. wage increases are infrequent

c. wages adjust slowly in both directions

d. people are rigid when reporting wages

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