According to Keynesian Economists,why Are Prices and Wages Often Inflexible

question 125

Multiple Choice

According to Keynesian economists,why are prices and wages often inflexible?

• A)Because of the existence of large corporations and unions.
• B)Because of high unemployment.
• C)Because of government regulation of the market.
• D)Because the AS curve is vertical.
• E)Because the AD curve is horizontal.

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Definitions:

George Ritzer

An American sociologist known for his work on consumerism, globalization, and the concept of McDonaldization, which describes the process by which the principles of the fast food industry dominate sectors of society.

Objective-Subjective Continuum

Refers to the range between objectively measurable facts and subjective perceptions or experiences, relevant in research and theory across disciplines.

World Systems

A sociological perspective that analyzes societies in terms of their position within global economic and political systems.

Micro-Level Troubles

Issues or problems experienced by individuals or small social groups, often contrasted with large-scale societal issues.