According to the Keynesian fixed wage theory, real wages should be
a. positively correlated with income.
b. not correlated with income.
c. fixed.
d. negatively correlated with income.
D
Economics
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Use the following Phillips curve equation to answer this question: ?t - ?t-1 = (m + z) - ?ut. Which of the following will cause an increase in the natural rate of unemployment?
A) a reduction in m B) an increase in z C) an increase in ? D) a reduction in expected inflation E) none of the above
Economics
A number of firms who collude to make collective production decisions about quantities or prices is called:
A. a joint monopoly. B. a cartel. C. a duopoly. D. market power.
Economics