According to Classical economists in the 1930s, a recession will end when:
A) government creates enough jobs for all of the unemployed.
B) wages rise enough to eliminate unemployment.
C) wages fall enough to eliminate unemployment.
D) taxes are cut enough to stimulate private spending.
Correct Answer:
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Q19: "Classical economist" is often used interchangeably with
Q20: The sum of the number of employed
Q21: The Classical economists argued that:
A)a market economy
Q22: The long-run growth framework focuses on factors
Q23: Which of the following was not a
Q25: The secular trend growth rate in the
Q26: A period of protracted slow growth and
Q27: Potential output:
A)is purely a physical phenomenon.
B)is related
Q28: Keynesian economics focuses on:
A)the long run.
B)the short
Q29: If a country of 300 million people
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