Consider the AD/AS Macro Model

question 50

Multiple Choice

Consider the AD/AS macro model.The wage-adjustment process is asymmetrical because

• A)factor prices fluctuate more frequently than goods prices.
• B)goods prices rise more quickly than factor prices.
• C)employers delay wage increases in a boom but lay off workers quickly during a slump.
• D)taxes rise quickly in a boom but do not fall during a slump.
• E)wages rise quickly in a boom but fall slowly during a slump.

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Definitions:

Gender Discrimination

Inequitable treatment or barriers faced by people based on their gender.

Real Domestic Output

The value of all goods and services produced within a country's borders in a given time period, adjusted for inflation.

Labor Force

The total number of people employed or actively seeking employment in a given economy.

High-Paying Occupations

Jobs that offer salaries significantly above the median income level for workers, often requiring specialized skills or education.