A(n) ____ can be used to demonstrate why a competitive oligopoly tends to result in a low-price strategy that does not maximize mutual profits

Using the Keynesian aggregate expenditures model, which of the following is true?

a. Macro equilibrium may occur at levels of real GDP other than full-employment real GDP. b. At any macro equilibrium, the actual rate of unemployment must equal the natural rate of unemployment. c. If an economy is operating below full employment capacity, the Keynesian model indicates that lower wage rates will automatically adjust the economy back to full employment. d. All of these are correct.

Given a fixed amount of time, a decision to supply labor or not is simultaneously a decision to

a. demand goods and services or not. b. demand leisure or not. c. supply capital and land or not. d. supply leisure or not.