The Keynesian short-run aggregate supply curve in the simplified Keynesian model is unrealistic because
A) a vertical curve does not make economic sense.
B) prices and wages will never decrease.
C) the classical model is better in explaining how the economy operates.
D) some price adjustments do take place in the short run.
D
Economics
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The personal income tax varies as GDP changes
a. True b. False Indicate whether the statement is true or false
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Suppose the population (age 16 and over) of Vietnam is 100 million; 5 million are unemployed, and 40 million hold jobs. The labor force participation rate in Vietnam is
a. 10 percent. b. 45 percent. c. 50 percent. d. 90 percent.
Economics