According to Keynes’ fixed money wage theory, when the price level is
According to Keynes’ fixed money wage theory, when the price level is higher than expected the real wage is ____ than expected and unemployment is ______ than expected.
a. lower; lower
b. higher, higher
c. lower; higher
d. higher; lower
ANSWER
C
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.