The New Keynesian Theories of Efficiency Wages Imply

question 40

Multiple Choice

The new Keynesian theories of efficiency wages imply

• A)nominal wage rigidity.
• B)real wage rigidity.
• C)changes in unemployment represent changes in the natural rate of unemployment.
• D)market clearing in the labor market in the long-run.
• E)None of the above

---

Definitions:

GAAP

Generally Accepted Accounting Principles, a set of rules encompassing the details, complexities, and legalities of business and corporate accounting.

U.S. Standards

This can refer to various official norms and regulations established by organizations and government agencies in the United States spanning different industries and areas such as accounting, safety, and quality.

GAAP

Generally Accepted Accounting Principles; these are the standard set of accounting rules, standards, and procedures that companies use to compile their financial statements in the United States.

IFRS

International Financial Reporting Standards, a set of accounting guidelines that govern how financial statements should be reported around the world.