The difference between voluntary and involuntary unemployment is that:
a. involuntary unemployment exists when wages are high.
b. voluntary unemployment exists in equilibrium.
c. voluntary unemployment falls as wages rise.
d. both b and c.
e. all of the above.
D
Economics
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Keynesians would argue that:
a. information is inherently limited. d. individuals have limited ability to process information when making decisions. c. people often make mistakes even with appropriate information. d. all of the above. e. none of the above.
Economics
Which of the following economic theories became popular in the 1930s in response to the shortcomings of existing theories of the Great Depression?
a. New classical theory b. Classical theory c. Traditional Keynesian theory d. Monetarist theory e. New Keynesian theory
Economics