The classical model explains away unemployment as a long-run problem by assuming that
A) coordination in labor markets will occur within an acceptable period of time
B) the economy consists of multiple,coordinated sectors
C) it causes firms to cut back on their long-run production plans
D) what is a problem during one period will seem more like an opportunity for economic growth during another period
E) higher saving will stimulate increased investment
Correct Answer:
Verified
Q43: The recession of 1982 was largely caused
A)
Q44: Over time the full-employment level of output
Q45: A shock that could trigger a recession
Q46: A shock that could trigger an expansion
Q47: A spending shock typically involves a dramatic
Q49: Which of the following is a common
Q50: The existence of recessions highlights
A) the strengths
Q51: The classical model fails to recognize that
A)
Q52: A shock to the economy is a
Q53: Which of the following shocks is most
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