Author Question: New classical macroeconomists believe that a. markets clear each and every period. b. the labor ... (Read 40 times)

Zoey63294 · **on:** Jun 30, 2018

New classical macroeconomists believe that

a. markets clear each and every period.
b. the labor market does not clear.
c. individuals are locked into money wage constraints.
d. individuals face market constraints in their ability to act in their own self-interest.
e. none of the above.

Question 2

The supply of labor in the classical system is a function of the

a. marginal product of labor.
b. real wage.
c. the public's preference for leisure.
d. money wage.
e. b and c