According to ________ models, the level of employment is determined primarily by prices and wages.
A. command system
B. Marxist
C. Classical
D. Keynesian
Answer: C
You might also like to view...
In the above figure, if the demand curve is D2, then
A) the equilibrium price will be P1 and the equilibrium quantity will be Q2. B) the equilibrium price will be P1 and the equilibrium quantity will be Q1. C) there will be a shortage equal to Q2 - Q1. D) an increase in price will shift the demand curve to D3.
If a firm is a price taker and wants to earn as much profit as possible, it should expand output
a. to the quantity at which marginal cost is minimized. b. as long as marginal cost is less than price. c. to the quantity at which average total costs are minimized. d. to try to sell all the output it can produce so that its average fixed costs will be minimized.
Which of the following exchange rate systems is in the right order, from MOST control to LEAST control?
a. floating, fixed, managed float b. fixed, floating, managed float c. managed float, floating, fixed d. fixed, managed float, floating
If the demand curve for a firm's output is P=100-2Q, the total revenue curve will be
A. TR=2P*Q. B. TR=100Q-2Q2. C. TR=100-2Q. D. TR=100Q-Q2.