Which of the Following Statements Is True

question 11

Multiple Choice

Which of the following statements is true?

• A) Keynes believed wages are inflexible downward but prices (of goods and services)are flexible.
• B) Keynes believed an economy could get stuck in a recessionary gap.
• C) Keynes originated the idea of efficiency wages.
• D) Keynes believed the economy is self-regulating.
• E) b and c

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Definitions:

British Labor Union

Labor organizations in the United Kingdom, aimed at improving working conditions, wages, and the rights of workers through collective bargaining and political action.

Association

pertains to a group of individuals or organizations that come together with a common purpose or interest.

Influential Union

A labor union that has considerable impact or sway over labor relations, policies, and practices within its industry or more broadly.

Government-Controlled

Refers to entities or sectors managed or regulated by the government rather than private individuals or organizations.