A decrease in autonomous consumer expenditure causes the equilibrium level of aggregate output to ________ at any given interest rate and shifts the ________ curve to the ________, everything else held constant

The demand curve for labor is negatively sloped only because the firm must lower its price if it wishes to sell more output

Indicate whether the statement is true or false

The classical model is a poor predictor of short-run economic fluctuations in part because it assumes that

a. all workers wish to work b. government will prevent these fluctuations c. the labor market always clears d. the long run is just a series of short-run periods e. labor demand curve is stable