The classical economists believed that the demand for labour is a function of:
A) total money wages
B) money wage rate
C) total real wages
D) real wage rate
Correct Answer:
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Q2: The idea that a general cut in
Q3: Say's law of market says:
A)supply creates its
Q4: The aggregate production function implied under classical
Q5: In the Cambridge equation of M =
Q6: As a result of an increase in
Q7: In the Fisher's extended equation of exchange
Q8: In Fisher's transaction velocity model, one of
Q9: The cash balance equation M = KPO
Q10: In the equation MV+ MI VI =
Q11: I classical demand for money, the relationship
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