All of the Following Are Reasons Why the Wages of Workers

question 3

Multiple Choice

All of the following are reasons why the wages of workers and the prices of inputs rise more slowly than the prices of final goods and services except

• A)unions are successful in pushing up wages.
• B)firms are often slow to adjust wages.
• C)contracts make prices and wages sticky.
• D)menu costs make some prices sticky.

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Definitions:

Procedural Memory

Procedural memory is a type of long-term memory that enables people to perform tasks without conscious awareness of the previous experiences that underlie those tasks, such as riding a bike or typing.

Declarative Memory

The aspect of human memory that involves the ability to consciously recall facts and events.

Sequential Memory

The ability to remember a sequence of events or pieces of information in the order in which they occurred or were presented.

Attention

Attention is the cognitive process of selectively concentrating on one aspect of the environment while ignoring other things.