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Which of the following is not an example of sticky wages? Select the correct answer below: A new technology allows a large manufacturing company to
Which of the following is not an example of sticky wages? Select the correct answer below: A new technology allows a large manufacturing company to automate most of its production, which decreases its demand for workers. However, it's employees are unionized, and wage decreases would violate the contract made with the union. Despite a decrease in the demand for farm workers, minimum wage laws prohibit farm owners from cutting wages any further. Thomas joined a labor union last year. A decrease in demand for labor in his industry does not affect his wage since the union would strike if wages were cut. A new hospital opens and significantly increases demand for nurses. As a result, the equilibrium wage for nurses increases by 25%
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