Pigou's Explanation of the Existence of Unemployment Required

question 15

Multiple Choice

Pigou's explanation of the existence of unemployment required

• A)wage "stickiness" or slowness of wages to adjust to changes in market conditions.
• B)fixed goods price or slowness of prices to adjust to changes in market conditions.
• C)Churchill's introduction of unemployment compensation.
• D)all of the above.

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Definitions:

Employing Class

A term that represents the group of individuals or entities that hire or employ workers, typically used in discussions surrounding labor and economic dynamics.

Wage System

A method or structure for compensating employees based on hours worked, job role, or performance, among other factors.

Aggregated Wealth

The total market value of all financial and non-financial assets owned by a group or country, minus liabilities.

Federation

A union of several groups, states, or organizations that are designed to work together for a common purpose, often seen in government structures or trade unions.