The assumption that the velocity of money and the quantity being produced is constant is held by the:
a. Keynesian school.
b. supply-side school.
c. neo-Keynesian school.
d. rational expectations school.
e. classical school.
e
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Without any change in the supply of labor, how will shifts in the demand for labor affect equilibrium wage and employment?
What will be an ideal response?
As a monopoly increases production, the price of all units sold falls, but marginal revenue increases
a. True b. False Indicate whether the statement is true or false
Tom, Mary, and Jill have apartments in the same building. Installing a security system for their building would cost $750 . Tom is willing to pay $100 for the security system, Mary is willing to pay $300, and Jill is willing to pay $300 . They meet to vote on whether to pay $250 each. The system will be installed if at least two of them vote for it. After the meeting, the security system will
_____, and this illustrates _____. a. be installed; the free rider problem b. not be installed; the free rider problem c. be installed; a negative externality d. not be installed; a negative externality
The MRP of labor will shift to the right if
A) labor productivity increases. B) labor productivity decreases. C) wages increase. D) wages decrease.