A crucial feature of early Keynesian business cycle theory is that real wages vary ________, which in fact ________ clearly emerge from U.S. data on wages over time
A) countercyclically, does not
B) countercyclically, does
C) procyclically, does not
D) procyclically, does
A
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John Smith leaves his job in New York to go to California in hopes of finding a better one. If John Smith is unemployed while searching for a job in California, economists would consider him to be
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) naturally unemployed.
An efficiency-wage premium serves the same function as a bond because, just as with a bond, the premium represents
A) the amount the employee loses if caught shirking. B) the expected value of the amount the employee loses if he shirks. C) the cost of monitoring the employee. D) the gain to the employee if he shirks.
The type(s) of merger(s) that directly increase(s) concentration in an industry is (are)
a. horizontal b. vertical c. conglomerate d. both vertical and horizontal e. both vertical and conglomerate
The shortsightedness effect suggests that benefits, especially when the costs of the projects are difficult to identify and are observable only in the distant future.
What will be an ideal response?