According to the Keynesians,labor Contracts

question 35

Multiple Choice

According to the Keynesians,labor contracts

• A)are unimportant for modern labor markets because few worker are unionized.
• B)mean that real wages are inflexible.
• C)mean that money wages never adjust.
• D)imply that nominal wages adjust,but only periodically.

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Definitions:

Block Grants

A type of financial aid issued by the federal government to state or local governments for broad purposes with few restrictions on how it is spent.

General Revenue Sharing

A federal government program that provides funds to local governments with minimal restrictions on how the money is spent, allowing for local discretion.

Unfunded Mandates

Regulations or mandates imposed by higher levels of government without providing the necessary funding to fulfill them.