Question 1
What definition of unemployment would you expect classical economists to use?
◦ anyone who is actively seeking work
◦ anyone who is willing to work if the market wage increases
◦ anyone who is willing to work at the current market wage, but has not yet been able to find employment
◦ anyone who is currently not working
Question 2
The shape of the short run aggregate supply curve is impacted by changes in the
◦ money market.
◦ labor market.
◦ goods market.
◦ financial market.