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.
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What will be an ideal response?
What is the current average tariff on imported goods for the world?
a. equal to 2 percent b. equal to 5 percent c. less than 5 percent d. greater than 5 percent
A tax of $1 on sellers shifts the supply curve upward by exactly $1
a. True b. False Indicate whether the statement is true or false
Assume the graph shown represents the market for bottles of wine and was originally in equilibrium with D and S. Something changes and demand shifts to D2. Which of the following is true?
A. Equilibrium quantity increased by 20. B. Equilibrium price increased by $5. C. Equilibrium quantity increased by 30. D. Equilibrium price increased by $15.