An Economy May Not Quickly and Automatically Eliminate a Recessionary

question 147

Multiple Choice

An economy may not quickly and automatically eliminate a recessionary output gap because wages

• A)never change in response to changes in the demand for labour.
• B)have a tendency to be sticky downward.
• C)have a tendency to fall too quickly.
• D)have a tendency to rise too quickly.
• E)are flexible but prices have a tendency to be sticky downward.

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Definitions:

Scheduling Shifts

Involves planning and organizing work hours and assignments to ensure optimal workforce coverage and productivity.

New Brand

The process of developing a new identity, image, and strategy for a product or company in the market.

Decision Making

The method of selecting options through recognizing a choice to be made, collecting relevant information, and evaluating different solutions.

Determining Accomplishments

The process of identifying and recognizing achievements or completed objectives.