Multiple Choice
According to Keynes, wages are inflexible because
A) of the minimum wage set by government.
B) of long-term contracts.
C) workers do not behave in their own self-interest.
D) workers are not rational.
Correct Answer:

Verified
Correct Answer:
Verified
Q193: The short-run aggregate supply curve in modern
Q194: Suppose the U.S. dollar weakens against the
Q195: If equilibrium level of real Gross Domestic
Q196: Economic growth will NOT result in deflation
Q197: In the simple Keynesian portion of the
Q199: Classical economists assumed that<br>A) prices were flexible.<br>B)
Q200: Refer to the above figure. At the
Q201: The horizontal short-run aggregate supply curve<br>A) assumes
Q202: According to Keynes<br>A) the short-run aggregate supply
Q203: Keynes argued that I. Capitalism did not