When Marxist economists look at labor markets, they:
A. focus on the tensions among social classes and generally see exploitation of workers by capitalists.
B. see individuals using government to protect their monopolies.
C. capture the same aspects of reality that are captured by other economists.
D. generally see supply and demand forces leading to equilibrium.
Answer: A
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When the economy is in the liquidity trap, the
A) LM curve is horizontal. B) LM curve is vertical. C) IS curve is horizontal. D) IS curve is vertical.
The most heavily traded American stocks are traded on the
a. New York Stock Exchange. b. American Stock Exchange. c. regional stock markets. d. "third market."
Provide two specific ways in which reducing inflation might leave "permanent scars" on the economy
What can be understood through the production function?
a. the monetary cost of inputs in relation to the sale price of outputs b. how many inputs are needed to produce a certain number of outputs c. the rate of change in output per added input compared with the change in cost d. the intrinsic value of operating the firm versus the firm’s monetary profits