New Keynesian theories of efficiency wages imply
a. voluntary unemployment.
b. real wage rigidity.
c. changes in unemployment represent changes in the natural rate of unemployment.
d. market clearing in the labor market in the long-run.
e. None of the above
B
Economics
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According to the quantity theory of money, in the long run, an increase in the quantity of money does not change real GDP but does raise the price level
Indicate whether the statement is true or false
Economics
An decrease in domestic savings
a. decreases foreign borrowing. b. will improve the trade balance. c. will increase exports. d. will increase foreign borrowing.
Economics