In the Keynesian Model,the Full-Employment Level of Output Is the Amount

question 56

Multiple Choice

In the Keynesian model,the full-employment level of output is the amount of output produced when

• A)the quantity of labor demanded equals the quantity of labor supplied.
• B)the market wage exceeds the efficiency wage.
• C)labor is paid an efficiency wage, and the real wage equals the marginal product of labor.
• D)the real wage exceeds the nominal wage.

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