Which of the Following Statements Is False

question 58

Multiple Choice

Which of the following statements is false?

• A)The economy is in equilibrium when saving equals investment.
• B)The classical school believed we are always tending toward full employment.
• C)The classical economists' aggregate supply curve is vertical in the short run.
• D)The economy is in equilibrium when aggregate demand equals aggregate supply.

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Definitions:

Nonunion Setting

A workplace environment where a labor union does not represent the employees.

Grievance Process

describes the formal mechanism through which employees can raise complaints or concerns regarding workplace issues, conditions, or violations of rights for resolution.

Union Contract

A legally binding agreement between an employer and a labor union representing the workers, outlining wages, hours, benefits, and working conditions.

Contract Bargaining

The process of negotiating the terms and conditions of employment between an employer and a group of employees or their representatives.