In the real business cycle model, fluctuations in employment are explained by ________
A) changes in the composition of household assets
B) intertemporal substitution as real wages and real interest rates changes
C) changes in the marginal propensity to consume
D) the impact of a change in price on quantity demand and quantity supplied in goods markets
B
Economics
You might also like to view...
In a competitive labor market, with one variable factor, the supply of labor to the firm is
A) equal to the marginal expenditure curve. B) equal to the demand curve for labor. C) greater than the marginal expenditure curve. D) equal to the marginal revenue product curve.
Economics
The term excess capacity refers to the fact that a firm operates on the upward-sloping portion of its average-total-cost curve
a. True b. False Indicate whether the statement is true or false
Economics