A _______Macroeconomist Believes That Business Cycle Fluctuations Are the Efficient

question 26

Multiple Choice

A _______macroeconomist believes that business cycle fluctuations are the efficient responses of a well- functioning market economy that is bombarded by shocks that arise from the uneven pace of technological change.A _______ macroeconomist believes that the short- run aggregate supply curve is horizontal at a fixed price level.

• A)new classical; new Keynesian
• B)monetarist; new classical
• C)classical; monetarist
• D)Keynesian; new Keynesian
• E)new classical; monetarist

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Definitions:

Mediators

Neutral third parties who facilitate negotiations or conflict resolution between disputing parties, aiming to achieve a mutually acceptable agreement.

Third Party Dispute

A conflict that involves an external party to assist in resolving a disagreement or dispute between two other parties, often in the context of labor relations.

Bargaining Impasse

A situation in labor negotiations where the union and the employer are unable to reach an agreement, potentially leading to strikes or lockouts.

Mutually Acceptable Terms

Conditions or agreements in negotiations that are agreeable to all parties involved, ensuring each party's needs or interests are adequately addressed.