Countries in Which Wages Adjust Slowly to Changes in the Supply

question 57

Multiple Choice

Countries in which wages adjust slowly to changes in the supply of and demand for labour are likely to have ________ sacrifice ratio.

• A)an infinite
• B)a high
• C)a low
• D)a zero

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Definitions:

Arithmetic Mean

The arithmetic mean is a statistical measure that represents the sum of all values in a dataset divided by the number of values.

Geometric Means

A statistical measure defined as the nth root (where n is the count of numbers) of the product of n numbers, particularly useful in calculating average rates of growth.

Investment

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Variance

Variance is a measure of the dispersion of a set of data points from their mean, indicating how spread out the data points are.