Business, 14.04.2020 18:02 2024daisjavien
1. Classical economists assumed that wage rates, prices, and interest rates were flexible and would adjust quickly. Consider an extreme case: Suppose classical economists believed wage rates, prices, and interest rates would adjust instantaneously. What would the classical aggregate supply (AS) curve look like? Explain.
2. Give two reasons explaining the possibility that wage rates may not fall.
3. How was Keynes's position different from the classical position with respect to saving and investment?
4. According to some economists, why might business firms pay wage rates above market-clearing levels?
Answers: 3
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Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.
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Which of the following has the largest impact on opportunity cost
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One of your new suppliers, kim, has been hearing rumors about your firmβs lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kimβs areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.
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Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.
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1. Classical economists assumed that wage rates, prices, and interest rates were flexible and would...
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