Wages Tend to Be Sticky

question 34

Multiple Choice

Wages tend to be sticky

• A)because of contracts,social norms,and notions of fairness.
• B)because of contracts,but not social norms or notions of fairness.
• C)because of social norms and notions of fairness,but not contracts.
• D)None of the above are correct.

---

Definitions:

Exact Simple Interest

The precise amount of interest earned or paid on a principal amount over a specific period, without compounding.

365-day Year

A method used for interest calculations where a year is assumed to have exactly 365 days.

No-fault Insurance

A type of auto insurance policy where insureds are indemnified for losses by their own insurance company, regardless of fault in the incident.

Medical Expenses

Medical expenses refer to the costs incurred for healthcare services, including doctor visits, hospital stays, medications, and procedures, which can be covered by insurance or out-of-pocket payments.