New Keynesian theory holds that wages are not completely flexible because of such things as long-term labor

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New Keynesian theory holds that wages are not completely flexible because of such things as long-term labor contracts.

New classical economists often respond that experience teaches labor leaders to develop and bargain for contracts that allow for wage adjustments. Do you think that the new classical economists have a good point? Why or why not?

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Microeconomics

ISBN: 9780357720639

14th Edition

Authors: Roger A. Arnold, Daniel R Arnold, David H Arnold

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Question Posted: Nov 01, 2024 07:00 AM

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New Keynesian theory holds that wages are not completely flexible because of such things as long-term labor

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Microeconomics

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