Assuming that workers will be pushed off their labor supply curve in response to a change in aggregate demand is part of which of the following theories?
A) Classical
B) Keynesian
C) New Classical
D) Both Classical and Keynesian
B
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Points that lie inside (or below) the PPF are
A) unattainable. B) attainable and productive efficient. C) attainable but productive inefficient. D) attainable and neither productive efficient nor productive inefficient.
What is a problem with using a production function of the form Q = aK + bL (a > 0, b > 0)?
A. The marginal products of the inputs do not have diminishing marginal returns. B. MRTS is constant. C. A positive output can be produced when one input is not used. D. both a and b E. all of the above
In the above figure, when the price of Good B increases, the result can be shown by
A. the movement from D1 to D2 in Graph A. B. the movement along D0 from P2 to P1. C. the movement along D0 from P1 to P2. D. the movement from D2 to D1 in Graph A.
Assuming no other changes, if balances in money market deposit accounts increase by $50 billion and small-denominated time deposits decrease by $50 billion, the:
A. M1 and M2 money supplies will not change. B. M2 money supply will increase. C. M1 money supply will decline. D. M2 money supply will increase and the M1 money supply will decrease.