According to Neoclassical Economists Before John Maynard Keynes

question 36

Multiple Choice

According to neoclassical economists before John Maynard Keynes:

• A)both the demand and supply of labour depend on the nominal wage rate
• B)the forces of demand and supply in the labour market will automatically eradicate involuntary unemployment
• C)involuntary unemployment can be a long-run problem
• D)while the demand for labour depends on the nominal wage rate, the supply of labour depends on the real wage rate
• E)the demand for labour depends on the nominal wage rate but the supply of labour depends on the real wage rate

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Definitions:

Hz

Hertz, a unit of frequency equivalent to one cycle per second.

RC Parallel Circuit

A circuit consisting of a resistor (R) and a capacitor (C) connected in parallel with each other across a voltage source.

Resistor Voltage

The voltage across a resistor, determined by the current flowing through it and its resistance value.

Capacitor Voltage

The electrical potential difference across the terminals of a capacitor, dependent on the charge stored and the capacitor's capacitance.