According to Gordon,a Major Problem with Keynes' "Rigid Nominal Wage

question 43

Multiple Choice

According to Gordon,a major problem with Keynes' "rigid nominal wage" theory of the business cycle is

• A)a horizontal LM curve.
• B)it is not a market clearing theory.
• C)falling real wages are not countercyclical with business activity or Y.
• D)None of the above.

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