Long- Term Labour Contracts Are an Important Feature of _

question 8

Multiple Choice

Long- term labour contracts are an important feature of _ _ macroeconomic theories. In contrast to a world with continuous bargaining of wages and employment, the existence of such contracts leads to a labour market in which involuntary unemployment is .

• A)New Keynesian; impossible
• B)New Classical; always present
• C)New Classical; impossible
• D)New Classical; possible
• E)New Keynesian; possible

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