If Wages and Other Input Prices Are Inflexible, Then the Economy

question 13

True/False

If wages and other input prices are inflexible, then the economy will not automatically adjust to full employment in the long run.

---

Definitions:

Hiring Bonuses

A financial incentive offered by employers to new employees as an attraction strategy to join the company.

Feedback

Information provided back to a person or group about their performance or behavior, intended for guidance and improvement.

Task Identity

The degree to which a job involves completing a whole, identifiable piece of work from start to finish, enhancing job satisfaction.

Job Characteristics Model

A theoretical framework proposing that five core job characteristics (skill variety, task identity, task significance, autonomy, and feedback) influence job satisfaction and performance.