John Maynard Keynes attributed the "stickiness" of real wages in the early years of the depression to ______.
a. the fall in the money supply.
b. the tendency of people to cut wages slowly while looking for a job.
c. the tendency of employers to ruthlessly replace long-time employees with theunemployed
d. resistance by workers, especially unionized workers, to wage cuts.
d. resistance by workers, especially unionized workers, to wage cuts.
Economics
You might also like to view...
Refer to Figure 7-3. If there was no quota, how many pounds of peanuts would be imported?
A) 16 million B) 28 million C) 30 million D) 40 million
Economics
Refer to Scenario 2.2. What is the effect of the BBP on the equilibrium price of dental care?
A) It unambiguously increases. B) It unambiguously decreases. C) It increases only if supply shifts more than demand. D) It increases only if demand shifts more than supply.
Economics