A crucial feature of early Keynesian business cycle theory is that real wages vary ________,which in fact ________ clearly emerge from U.S.data on wages over time.
A)countercyclically,does not
B)countercyclically,does
C)procyclically,does not
D)procyclically,does

Question

Quizplus · Accepted Answer

Early Keynesian business cycle theory suggests that real wages vary countercyclically, meaning they go up during economic downturns and go down during economic upturns. However, this pattern does not clearly emerge from U.S. data on wages over time, indicating that option A is the correct choice.

A Crucial Feature of Early Keynesian Business Cycle Theory Is