With Sticky Nominal Wages, a Monetary Expansion Causes Real Wages

question 43

True/False

With sticky nominal wages, a monetary expansion causes real wages to fall.

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Definitions:

Serial-Position Effect

The tendency of a person to recall the first and last items in a series best, and the middle items worst.

Recall

The ability to retrieve and reproduce information from memory that was previously learned or experienced.

Semantic Memory

A type of long-term memory involving the ability to remember meanings, understandings, and other concept-based knowledge unrelated to personal experiences.

Circumference

The linear distance around the edge of a closed curve or circular object.