Final answer:
When something is static, it doesn't grow, move, or change. If your wages are stagnant, they're stuck or not increasing over time -- and it might be time to start looking for a new job. (option a is the correct answer).
Step-by-step explanation:
The correct answer is Static; stagnant,' indicating that wages are not growing or changing. This concept relates to economic models where wages are 'sticky' and inflexible, causing unemployment issues when wages do not adjust downwards in tough economic times.
Economic models that consider wages as static can explain why there might be unemployment in the market despite the availability of jobs, as wages do not easily decrease even when the economy is suffering. These models illustrate that wages are 'sticky' in the downward direction, causing both short-run and long-run unemployment problems. Understanding why wages may be stagnant and the implications of sticky wages are important for analyzing labor market conditions and the overall economy.