Employment tends to
A) lead the cycle.
B) be coincident with the cycle.
C) lag the cycle.
D) sometimes lead, sometimes lag the cycle.
C
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In the classical long-run model,
a. we focus on labor resources, rather than capital or land b. we study thousands of different resource markets c. we concentrate our attention on three resource markets: land, labor, and capital d. we focus on two markets: households and firms e. the number of variables we include depends upon whether we are focusing on the short run or the long run
(Consider This) Subsidies for mohair production illustrate:
A. why special-interest effects are often characterized by concentrated benefits and diffuse costs. B. why special-interest effects are often characterized by concentrated costs and diffuse benefits. C. that larger groups carry greater political weight than smaller groups. D. the moral hazard problem.