We Don't Typically See Wages Fall in Response to an Economic

question 76

Multiple Choice

We don't typically see wages fall in response to an economic downturn because:

• A) labor supply adjusts so that the market stays at the original equilibrium wage level.
• B) there is often little change in the labor market in response to economic conditions.
• C) they are "sticky" and are slow to respond to shifts in the economy.
• D) the government sets tight regulations on how firms compensate their employees.

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