Multiple Choice
Which of the following best describes how nominal wages will be affected in the long run?
A) Nominal wages and real wages tend to be equal.
B) Nominal wages are more flexible downward than upward.
C) Nominal wages are more flexible than prices.
D) Sustained and continuous unemployment suggests nominal wages do NOT fall quickly.
Correct Answer:
Verified
Correct Answer:
Verified
Q26: Which of the following would shift the
Q27: What is the main effect of an
Q28: How would an adverse supply shock shift
Q29: Suppose the economy is initially in long-run
Q30: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4905/.jpg" alt=" -Refer to the
Q32: What does the potential output of an
Q33: Which of the following would shift the
Q34: Which of the following will cause potential
Q35: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4905/.jpg" alt=" -Refer to the
Q36: Which of the following would cause the