Author Question: According to Keynes' fixed money wage theory, when the price level is higher than expected the real ... (Read 59 times)

saraeharris · **on:** Jun 30, 2018

According to Keynes' fixed money wage theory, when the price level is higher than expected the real wage is ____ than expected and unemployment is ______ than expected.

a. lower; lower
b. higher, higher
c. lower; higher
d. higher; lower

Question 2

Which of the following best describes typical employer attitudes toward organized labor (unions) during the 19th century?

(a) Positiveunions could promote cooperation with management to achieve
more efficient operations
(b) Negativeunion-promoted labor gains seized profits and encouraged
inefficient behavior
(c) Indifferentunions had little impact on business profitability
(d) Mixedabout half of employers favored unions and half opposed them