Unlike the Real World, the Classical Model with Fixed Output

question 106

Multiple Choice

Unlike the real world, the classical model with fixed output assumes that:

• A) all factors of production are fully utilized.
• B) all capital is fully utilized but some labor is unemployed.
• C) all labor is fully employed but some capital lies idle.
• D) some capital lies idle and some labor is unemployed.

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Definitions:

Somatic Nervous System

A component of the peripheral nervous system that controls voluntary movements of the body by innervating skeletal muscles.

Sensory Receptors

Cells or organs specialized to detect external stimuli from the environment and convert them into neural signals for processing by the nervous system.

Serotonin Agonist

A type of drug that mimics the effects of serotonin, a neurotransmitter, by stimulating its receptors in the brain, often used to treat depression and other mood disorders.

Acetylcholine

Acetylcholine is a neurotransmitter in both the central and peripheral nervous systems, involved in muscle activation, learning, and memory.