Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 15, Problem 9E
To determine
To explain:
Opinion on sticky wages. Also, explain the waythe study should be designed to research about the stickiness of the wages.
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Are wages more sticky upwards or downwards? Why? Explain.
Which of the following is a reason for sticky wages?
A. Fiscal Policy
B. Monetary Policy
C. Aggregate Demand
D. Long-term Contracts
E. All of the above
Do you think it is rational for workers to prefer sticky wages to wage cuts, when the consequence of sticky wages is unemployment for some workers? Why or why not? How do the reasons for sticky wages explained in this section apply to your argument?
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