Thelabormarket isalwaysinequilibrium c peoplewhoare

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Unformatted text preview: cur slowly. Answer: B Diff: 2 Topic: The Classical View of the Labor Market Skill: Fact 27) If firms start offering more employment benefits, such as more stock options and a better dental plan, we would expect the labor ________ curve to shift to the ________. A) demand; right B) demand; left C) supply; right D) supply; left Answer: C Diff: 2 Topic: The Classical View of the Labor Market Skill: Conceptual AACSB: Reflective Thinking 28) The view of the labor market is basically consistent with the assumption of ________ aggregate supply curve. classical A) a horizontal (or almost horizontal) B) a downwardC) sloping an upwardD) sloping a vertical (or almost vertical) Answer: D Diff: 1 Topic: The Classical View of the Labor Market Skill: Fact 29) Classical economists believe that the aggregate supply curve is vertical because A) wages are B) flexible and they always change to clear the labor market. the labor market is always in equilibrium. C) people who are not working are those who hav...
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This note was uploaded on 06/02/2013 for the course ECON 130 taught by Professor Meshew during the Fall '13 term at Victoria Wellington.

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