According to Keynes, wages are inflexible because
A) of the minimum wage set by government.
B) of unions and long-term contracts.
C) workers do not behave in their own self-interest.
D) the economy is never in the long run.
B
Economics
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The natural rate of unemployment is that rate
A) below which the economy can never be. B) corresponding to full-employment. C) corresponding to a constant rate of inflation. D) which is zero.
Economics
Refer to Figure 14.2. Suppose that, due to a recession, foreign workers begin to leave the United States to search for work in their home countries. Other things equal, this would best be represented in the United States by a movement from
A) point A to point B. B) point B to point A. C) point B to point C. D) point A to point C.
Economics