Which of the following real-world phenomena does the classical model ignore?
a. Frictional unemployment
b. Inflation
c. Real output growth
d. Cyclical unemployment
e. Structural unemployment
D
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An increase in the world relative demand for U.S. output causes
A) a short-run real depreciation of the dollar against the euro. B) a long-run real appreciation of the dollar against the euro. C) a long-run real depreciation of the dollar against the euro. D) a short-run real appreciation of the euro against the dollar. E) a long-run real appreciation of the euro against the dollar.
The Beveridge curve shifted outward during what period?
A) during the Great Depression. B) during the Great Moderation. C) after January 2008. D) between January 2000 and December 2007.
What is one potential problem with nationalized health care?
A) It might not reduce moral hazard. B) It is guaranteed to solve the principal-agent problem. C) It would be efficient in risk bearing. D) It might cost too much.
According to the above figure, what are the profits of the firm if it produces 50,000 units?
A) -$5,000 per day B) -$10,000 per day C) -$7,500 per day D) -$17,500 per day