Output and Employment in Country Y Has Fallen Below Its

question 52

Multiple Choice

Output and employment in Country Y has fallen below its equilibrium level.Which of the following groups of economists is likely to believe that output and employment will return to its equilibrium level without government intervention?

• A)Keynesian economists
• B)Post-modern economists
• C)Monetarists
• D)Classical economists

---

Definitions:

Selling Price

The amount of money for which a product or service is sold to the customer.

Forecast Revenue

An estimate of future sales and income, usually based on past trends, market analysis, and other predictive measures.

Unit and Price Detail

Specific information concerning the quantity of goods or services along with their corresponding prices.

Subjective Benefits

Advantages or value perceived by individuals in a subjective manner, sometimes difficult to quantify, like job satisfaction or brand loyalty.