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Author Question: If nominal wage rates are contractually determined and cannot change in the short run, then an ... (Read 20 times)

lb_gilbert

  • Hero Member
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  • Posts: 588
on: Jun 30, 2018
If nominal wage rates are contractually determined and cannot change in the short run, then an unexpected increase in the inflation rate will:
 a. increase business profits and reduce the unemployment rate.
  b. reduce both business profits and the unemployment rate.
  c. reduce business profits and increase the unemployment rate.
  d. increase both business profits and the unemployment rate.
  e. cause no change in business profits or the unemployment rate

Question 2

Moving along an elastic portion of a demand curve, a small percentage change in price leads to a larger percentage change in quantity demanded.
 a. True
  b. False
  Indicate whether the statement is true or false


billybob123

  • Sr. Member
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  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

True


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