Ask Question
BusinessBusiness
17 June, 06:54

John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economy Question 3 options: could get stuck in long-run equilibrium. could get stuck in a recessionary gap. could get stuck in an inflationary gap. would always produce more than Natural Real GDP

+1
Answers (1)
  1. 17 June, 08:08
    0
    An economy could get stuck in a recessionary gap

    Explanation:

    Keynes believed that wages may be inflexible in the downward direction and which would consequently cause an economy to get stuck in the recessionary gap. The recessionary gap happens when a country's real GDP is lower than it's gross domestic product at a state of full employment. It shows the difference between the actual and potential production in an economy. But with the actual being smaller or lower than the potential production.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economy Question 3 options: could get ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Discrimination occurs when the marketplace offers different opportunities to similar individuals who differ only by a. race. b. level of education. c. attitudes toward risk. d. All of the above are forms of discrimination.
Answers (1)
At the end of the season, a merchandiser notices that 80% of the items he manages have left over inventory. Another merchandiser notices that only 20% of her items have left over inventory. Who makes better decisions
Answers (1)
Kristina has to deliver twenty 100-word marketing "blurbs" by the end of the week. Which of the following aspects of her project will be most challenging to measure? A. The effectiveness of the "blurbs"B. How many blurbs she is able to deliver C.
Answers (1)
Teddy Times Inc. is a popular toy-manufacturing brand. It sells its products under its own brand name at various department stores. The company also sells a few of its product lines through a popular retail chain using the retail chain's label.
Answers (1)
To identify the management problem, the researcher must possess considerable skill in interacting with the DM. Which of the following is a factor that might complicate this interaction? Select one: a.
Answers (2)
New Questions in Business
A customer buys $10,000 of 30 year corporate bonds with 10 years left to maturity at 92. The customer elects not to accrete the discount annually. At maturity, the customer will have:
Answers (1)
Wolfpack Construction has the following account balances at the end of the year. Accounts Balances Equipment $ 21,000 Accounts payable 2,000 Salaries expense 28,000 Common stock 10,000 Land 13,000 Notes payable 15,000 Service revenue 34,000 Cash
Answers (1)
The managerial accountant at Safety, Inc. prepared a Flexible Budget Performance Report. The managerial accountant noticed a $5,600 U variance for cost of goods sold for units estimated to cost $25 per unit to produce.
Answers (1)
In an advertisement, FreshAir, Inc. stated that its air freshener lasted for 3 hours while the competitor's Smell Sweet lasted for only 36 minutes. In fact, Smell Sweet freshens the air for more than 2 hours.
Answers (1)
How many american adults are affected by specific phobias each year? a. 920,000 b. 13.2 million c. 26.2 million d. 19.2 million?
Answers (1)
Home » Business » John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economy Question 3 options: could get stuck in long-run equilibrium. could get stuck in a recessionary gap. could get stuck in an inflationary gap.
Sign Up Forgot Password?