The classical model

a. relies on the equivalency of the labor, capital, and land resource markets
b. includes a land market and a labor market
c. focuses primarily on capital markets
d. focuses primarily on labor markets
e. focuses on labor, capital, and land markets


D

Economics

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Which of the following happens if the real interest rate of an economy rises?

A) Labor demand increases. B) Labor supply falls. C) Investment falls. D) Consumption increases.

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The automobile market is an example of a perfectly competitive market

a. True b. False

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Neoclassical economists see no social ______________ to inflation and suggest that the government should take actions to control it.

a. drawback b. criticism c. benefit d. support

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By summing the quantities demanded by individuals at each price we obtain the

A. market demand curve. B. market supply curve. C. equilibrium price. D. individual demand curve.

Economics