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Author Question: What are the defining features of classical macroeconomics and what policies do classical ... (Read 117 times)

humphriesbr@me.com

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on: Jun 29, 2018
What are the defining features of classical macroeconomics and what policies do classical macroeconomists recommend?
 
  What will be an ideal response?

Question 2

Refer to Table 4-7. If a minimum wage of 11.50 is mandated there will be a
 
  A) shortage of 40,000 units of labor. B) surplus of 20,000 units of labor.
  C) surplus of 40,000 units of labor. D) shortage of 20,000 units of labor.


234sdffa

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Classical macroeconomists believe that the economy is self-regulating and always at full employment. Classical macroeconomists assert that the proper government policy is to minimize the disincentive effects of taxes on employment, investment, and technological change.

Answer to Question 2

C


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