In the classical model,the factors determining output and employment are the factors that ascertain the position(s)of
A)the labor supply curve only.
B)the labor demand curve only.
C)the aggregate production function.
D)both the labor supply curve and the labor demand curve.
E)Both c and d

Question

Quizplus · Accepted Answer

In the classical model, both the labor supply and labor demand curves play a role in determining output and employment. However, these factors are ultimately determined by the aggregate production function, which is represented by choice C. Therefore, choices D and E are also correct but choice E encompasses all three factors.

In the Classical Model,the Factors Determining Output and Employment Are