Classical economists believed that
A. if saving exceeded investment, prices and interest rates would rise as business accumulated unwanted inventories.
B. flexible prices and wages could not restore an economy to full employment if the interest rate were rigid.
C. flexible interest rates, wages, and prices would assure full employment.
D. voluntary unemployment reflected economic inefficiency.
C. flexible interest rates, wages, and prices would assure full employment.
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Kenya owns a lawn mowing company. His total product schedule is in the above table. When 4 workers are employed, the average product is ________ lawns mowed per week
A) 80 B) 25 C) 20 D) 5 E) 320
All individuals and firms in a country must gain from trade in order for it to be beneficial to the nation
Indicate whether the statement is true or false
How do you think each of the following would affect the unemployment rate?
a. The Fed increases the money supply and engineers an unexpected increase in the rate of inflation from 2 percent to 5 percent. b. The rate of inflation remains stable at 2 percent over a five-year period, as expected. c. There is an unexpected decrease in the rate of inflation from 10 percent to 3 percent.
If men, on average, earn 20 percent more than women in a particular occupation,
a. this is clear evidence of discrimination. b. some of this differential could be due to differences in educational levels. c. some of this differential could be due to differences in human capital. d. Both b and c are correct.