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.Management Sciences
Category: Aggregate Supply, Unemployment And Inflation
one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
0
A. quickly
B. slowly
C. very infrequently
D. instantly
If a person thinks they are better off after a 10% wage increase, and all prices have risen 10% then they are experiencing ?
A. inflation
B. a supply shock
C. crowding out
D. inflation illusion
The expectations augmented Phillips curve was the Work of which group of economists ?
A. New classical economists
B. Keynesian.
C. Monetarists
D. Marxists.
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
All the following are types of monetary policy expect ?
A. a nominal money stock target
B. a balanced budget
C. an inflation target
D. The pursuit of a target real interest rate
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