One difficulty with any explanation of economic fluctuations based on a shift in labor supply is that
A) workers' preferences tend to change very quickly
B) labor supply shifts all the time without causing recessions or expansions
C) labor supply is difficult to measure
D) workers' preferences tend to change very slowly
E) the unemployment rate changes during economic fluctuations
Correct Answer:
Verified
Q27: Which of the following assumptions of the
Q28: The classical model is one of the
Q29: A logical explanation for recessions might be
Q30: Which of the following could lead to
Q31: The classical assumption that labor markets clear
Q33: The classical model does not do a
Q34: The existence of economic fluctuations makes it
Q35: A weakness of the classical model is
A)
Q36: When explaining expansions and recessions,the classical model
Q37: Which of the following could cause a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents