Author Question: New Keynesian economists believe that a. movements in unemployment can be explained by voluntary ... (Read 19 times)

bobbie · **on:** Jun 30, 2018

New Keynesian economists believe that

a. movements in unemployment can be explained by voluntary movements in and out of the labor market..
b. everyone who is not working is involuntary unemployed.
c. labor markets clear in the long-run.
d. the new classical model has merit, but recessions cannot be adequately explained in a model of with perfectly flexible prices and wages.

Question 2

The Mint Act of 1792 failed to provide for a stable domestic hard currency for the U.S. because

(a) the supply of gold and silver was inadequate.
(b) the federal government failed to make the coins legal tender.
(c) gold was undervalued, while silver was exported.
(d) the notes of the U.S. government were not accepted by the population because of their
low value, while the government had no gold to offer.