If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?

Related Mcqs:

An unspoken agreement between workers and firms that the firm will not cut wages is known as ?

A. an implicit or social contract B. a relative-wage contract C. employment at will D. an explicit contract...

An advocate of the classical model of the economy would claim that unemployment is created when the ____ is above its equilibrium level in the ______?

A. price level, aggregate economy B. tax rate, government budget C. wage rate, labor market D. interest rate, market for loanable funds...

We would normally expect the size of the labor force to be _____ than the number or workers willing to accepts job offers at any real wage rate ?

A. Smaller B. Larger C. the same size D. None of these...

When economists use the term real business cycle theory they are suggesting that business cycles are caused by ?

A. Shifts in aggregate supply B. changes in export demand due to the state of the world economy C. business confidence D. business expectations...

A person who is made redundant because of the contraction of an industry is a victim of ?

A. frictional unemployment B. demand-deficient unemployment C. classical unemployment D. structural unemployment...