Which of the following statements applies to the classical system?
A) There is money wage inflexibility since full employment already existed
B) A perfectly flexible money wage is not always a requirement for full employment
C) Full employment was easily explained with downward money wage rigidity
D) An imperfect market structure is requirement for full employment
E) none of the above
Correct Answer:
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Q32: Figure 4.1 Q33: If the propensity to hold money is Q34: Which of the following is not a Q36: In the classical theory of aggregate demand,a Q37: In the classical model,less consumption and more Q38: Supply-side economists Q39: Classical economists Q40: Which of the following is (are)correct? In
A)focus almost exclusively on the supply-side
A)argued that the money supply determined
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