Homework Answers
1) cyclical unemployment. This is the kind of unemployment that is generated when the economy experiences recessionary gap and there is an increase in the rate of unemployment beyond the natural rate
2) it is work for income and volunteering and leisure. Labour supply curve relates income or consumption with leisure
3) wages and prices completely adjust in order to bring the equilibrium in the market which means there is no recession or expansion in the economy.
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Instructions Part 1 Add the word or words that correctly complete each of the following statements...
6. Consider the following statements about the macroeconomy. For each, indicate whether the statement best distinguishe...
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6. Consider the following statements about the macroeconomy. For each, indicate whether the statement best distinguishes the strict Keynesian view, strict classical view, or neither of these views a. All prices are completely flexible. b. The primary focus is on aggregate supply. c. Spending is the key determinant of output. d. Capital is the key source of economic growth. e. Saving can be detrimental to the economy. f. The macroeconomy generally takes care of itself. g. Every dollar borrowed requires...
1. What were the cause(s) of the long-run aggregate supply shift during the Great Recession? What were the cause(s) of the aggregate demand shift during the Great Recession? 6. Consider the following statements about the macroeconomy. For each, indicate whether the statement best distinguishes the strict Keynesian view, strict classical view, or neither of these views a. All prices are completely flexible. b. The primary focus is on aggregate supply. c. Spending is the key determinant of output. d. Capital...
Section B Directions: Complete each of the following statements by writing in the Answers column the letter of the word or words that correctly completes each statement or answers the question. (3 points each) or Answers Scoring 1. The order of the flow of financial data accounting information systems is (A) journalize, post, analyze; (B) analyze, journalize, post; (C) journalize analyze, post; (D) analyze, post, journalize; (E) analyze, journalize, analyze, post 2. A chart of accounts doesn't include (A) account...
TORENTO CONSTRUCTION: ETHICAL CONTRACTING On December 27, 2010, Cary Holmes, manager of the Supply Chain Management (SCM) group at Torento Construction Inc. (NCG), was in his office in Torento, Ontario, trying to organize the thoughts running through his head as a result of a recent bidding to save operating costs at NCG. There was no problem in terms of the final outcome; in fact, the bid was going to result in cost savings of 25 per cent, which was exactly...
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