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Author Question: According to the Classical model, unemployment (Read 34 times)

P68T

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Question 1

Which of the following is an assumption used by Classical economists?


◦ Wages adjust downward but not upward.
◦ Wages adjust upward but not downward.
◦ Wages are inflexible.
◦ Wages adjust both upward and downward.

Question 2

According to the Classical model, unemployment


◦ could not persist because wages would rise to eliminate the excess supply of labor.
◦ could not persist because wages would fall to eliminate the excess supply of labor.
◦ could be eliminated through fiscal and monetary policies.
◦ could be eliminated only through government intervention.


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Marked as best answer by P68T on Apr 19, 2019

TDubDCFL

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P68T

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review


mochi09

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Reply 3 on: Yesterday
:D TYSM

 

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