A decline in money supply will lead to a(n) ________ if nominal wages are rigid

Let "C = Ca + by" define the consumption function. The term "by" is

A) the marginal propensity to consume. B) autonomous consumption. C) current income. D) consumption that depends on income.

In 1993, the debate heated up in the United States about the North American Free Trade Agreement (NAFTA), which proposed to reduce barriers to trade (such as taxes on or limits to imports) among Canada, the United States, and Mexico

Some people opposed strongly the agreement, arguing that an influx of foreign goods under NAFTA would disrupt the U.S. economy, harm domestic industries, and throw American workers out of work. How might a classical economist respond to these concerns? Would you expect a Keynesian economist to be more or less sympathetic to these concerns than the classical economist? Why?