In the Classical Model,an Increasing Demand for Labor Will

question 84

Multiple Choice

In the classical model,an increasing demand for labor will

• A) cause an expansion with higher employment and a higher real wage.
• B) cause a shortage of labor because the labor market always clears.
• C) cause a recession with lower employment and a lower real wage.
• D) cause a recession because wages are fixed in the short run.
• E) cause an expansion with lower employment and a higher real wage.

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Definitions:

American Federation of Labor

A historic national federation of labor unions in the United States, known for focusing on skilled workers and collective bargaining.

Primary Goals

represent the fundamental objectives or targets that an individual, organization, or project aims to achieve, serving as the driving force behind strategies and actions.

Period of Strikes

A time frame characterized by a series of strikes, indicating widespread labor disputes or industrial action.

WWII

Short for World War II, a global conflict that occurred from 1939 to 1945, involving most of the world's nations and culminating in significant geopolitical changes.