According to classical theory, full employment in the labor market occurs
A. only when actual expenditures are greater than desired expenditures.
B. only when the economy has just experienced a demand shock.
C. at a wage rate at which quantity demanded equals quantity supplied.
D. whenever aggregate demand is less than aggregate supply.
Answer: C
You might also like to view...
International economics can be divided into two broad sub-fields
A) macro and micro. B) developed and less developed. C) monetary and barter. D) international trade and international money. E) static and dynamic.
When two people agree to a price in a negotiation, we can assume that:
A. only one of the parties will benefit, but there is not enough information to determine which one it will be. B. both parties will benefit. C. the seller will receive more benefit from the transaction than the buyer. D. each one will receive equal benefits from the transaction.
Falling growth rates during the 2007-2009 recession occurred:
A. in the United States, China, Germany, the United Kingdom, and Japan. B. in the United States and China, but not in Germany, the United Kingdom, or Japan. C. only in the United States. D. only in the high-tech sectors of the U.S. economy.
The wearing out of plants and equipment is known as
A. Maintenance Costs. B. Depreciation. C. Chain-weighted adjustment. D. Inflation.