The Keynesian Explanation for Cyclical Unemployment Is

question 140

Multiple Choice

The Keynesian explanation for cyclical unemployment is:

• A) that labor is reallocated across different industries.
• B) the same as that for frictional and structural unemployment.
• C) that wage demands are too high relative to falling prices.
• D) that it is a normal response to real shocks in the economy.

Recognize the importance and functions of pay structures in achieving organizational goals, including cost control.

Comprehend the legal environment affecting pay, including laws like the FLSA and the Davis-Bacon Act.

Appreciate the role of equal employment opportunity laws and other regulations in ensuring fair pay practices.

Understand the implications of pay levels, pay grades, and key jobs on the organization's pay structure and market competitiveness.