New Keynesian economists believe that
a. movements in unemployment can be explained by voluntary movements in and out of the labor market..
b. everyone who is not working is involuntary unemployed.
c. labor markets clear in the long-run.
d. the new classical model has merit, but recessions cannot be adequately explained in a model of with perfectly flexible prices and wages.
D
Economics
You might also like to view...
For an imaginary economy, the value of the consumer price index was 138.75 in 2016, and the inflation rate was 10 percent between 2015 and 2016 . The consumer price index in 2015 was
a. 126.1. b. 128.8. c. 148.8. d. 152.6.
Economics
The planning curve is the
A) long-run average cost curve. B) production function. C) short-run marginal cost curve. D) short-run average cost curve.
Economics