Author Question: In the classical model, what occurs if a wage of 20/hour results in unemployed workers? A) The ... (Read 73 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
In the classical model, what occurs if a wage of 20/hour results in unemployed workers?
 
  A) The wage rate will drop, more workers will be hired, and the unemployment rate falls.
  B) Producers will quickly create more jobs and hire the unemployed workers, so unemployment is short-lived.
  C) The workers will go on strike to demand that more jobs be created.
  D) The government will step in and order firms to hire more workers.

Question 2

Long-run aggregate supply and a country's production possibility curve (PPC)
 
  A) are inversely related. B) are closely related.
  C) have no relationshi



bigcheese9

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

A

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

For a complete list of videos, visit our video library