Author Question: Wages are said to be sticky downwards because this promotes good work effort and ensures that ... (Read 49 times)

nevelica

  • Hero Member
  • *****
  • Posts: 563
Wages are said to be sticky downwards because this promotes good work effort and ensures that workers and firms share the same goals of efficient production and profit maximization.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If an increase in prices decreases total revenue in the short run, what will it do to total revenue in the long run?
 a. It will decrease total revenue in the long run.
 b. It will increase total revenue in the long run.
 c. It will leave total revenue unchanged in the long run.
  d. Any of the above results are possible in the long run.



emily12345

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

True

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

For a complete list of videos, visit our video library