Question 1

In the neoclassical view of the macroeconomy, if capitalists find they are unable to sell all of their goods

Accepted Answer

A)   they will continue to produce at current levels but will reduce their prices to sell more goods.
B)   they will maintain prices and put unsold goods into inventories.
C)   they will cut back on production and lower prices.
D)   they will cut back on production but maintain current prices to cover costs.

Question 2

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium.
-Which neoclassical argument claims that prices and output react in a certain way to outside shocks so as to lead back to equilibrium?

Accepted Answer

The answer of Name the three markets that comprise the...

Question 3

According to conservative economists, involuntary unemployment

Accepted Answer

A)   does not exist.
B)   should be imposed on those unwilling to work.
C)   occurs during an economic expansion.
D)   could be eliminated by effective government programs. A

Question 4

In the neoclassical view of the macroeconomy, any income not used for consumption

Accepted Answer

A)   will be used to pay taxes.
B)   will be used for investment.
C)   will be used for government projects.
D)   will be used for exports.

Question 5

In the neoclassical view of the macroeconomy, the supply of savings is

Accepted Answer

A)   unrelated to the interest rate.
B)   inversely related to the interest rate.
C)   positively related to the interest rate.
D)   is fixed.

Question 6

Give a brief history of the evolution of the current traditional economic models of the ?macroeconomy.
-Who was Wesley Mitchell? What was his argument against Say's law?

Accepted Answer

The evolution of traditional economic mo...

Question 7

In the neoclassical view of the macroeconomy, investment spending is

Accepted Answer

A)   unrelated to the interest rate.
B)   inversely related to the interest rate.
C)   positively related to the interest rate.
D)   is completely unpredictable B

Question 8

Whats defention of terms:
-Equilibrium

Accepted Answer

The answer of Whats defention of terms:
-Equilibrium...

Question 9

Progressive economists argue that conservatives tend to blame the unemployed for their own unemployment. What does this mean?

Accepted Answer

A)   Conservatives argue that the unemployed have caused businesses to fail.
B)   Conservatives argue that the unemployed do not pay buy enough goods and services causing the economy to go into a recession.
C)   Conservatives argue that the unemployed are simply unwilling to work at the prevailing wage.
D)   Conservatives argue that the unemployed have lost their jobs by being so industrious that they are no longer needed by their employers.

Question 10

Some neoclassical economists argue that recessions are caused by

Accepted Answer

A)   a deficiency of aggregate demand.
B)   hoarding of savings.
C)   outside shocks or disruptions.
D)   free trade.

Question 11

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium.
-Do these three arguments support or oppose Say's law?

Accepted Answer

The answer of Name the three markets that comprise the...

Question 12

Compare and contrast the traditional and progressive views of unemployment in the macroeconomy.
-What is the traditional view of involuntary unemployment?

Accepted Answer

The answer of Compare and contrast the traditional and progressive...

Question 13

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium.
-Which neoclassical argument claims that employee compensation and number of employees hired react in a certain way to outside shocks so as to lead back to equilibrium?

Accepted Answer

The answer of Name the three markets that comprise the...

Question 14

Give a brief history of the evolution of the current traditional economic models of the ?macroeconomy.
-What is the neoclassical response to Keynes' vision of business cycles?

Accepted Answer

The answer of Give a brief history of the evolution...

Question 15

In the neoclassical view of the macroeconomy, a temporary lack of demand for all goods and services will lead to

Accepted Answer

A)   inflation.
B)   a fall in the price level.
C)   an expansion.
D)   a recession.

Question 16

Compare and contrast the traditional and progressive views of unemployment in the macroeconomy.
-How would conservative economists explain the high unemployment rates of the Great depression? How would progressive economists?

Accepted Answer

The answer of Compare and contrast the traditional and progressive...

Question 17

What are the three main markets that comprise market capitalism?

Accepted Answer

A)   the market for goods, the market for services, and the market for technology.
B)   the market for goods, the market for services, and the market for labor.
C)   the market for goods and services, the market for labor, and financial markets.
D)   the market for services, the market for information, and financial markets. C

Question 18

In the neoclassical view of the macroeconomy, too many workers seeking work or unemployment will lead to

Accepted Answer

A)   falling wages.
B)   rising wages.
C)   rising interest rates.
D)   government programs to help the unemployed.

Question 19

Whats defention of terms:
-outside shock

Accepted Answer

The answer of Whats defention of terms:
-outside shock...

Question 20

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium.
-Which neoclassical argument claims that money and interest rates react in a certain way to outside shocks so as to lead back to equilibrium?

Accepted Answer

The answer of Name the three markets that comprise the...

Exam 39: Neoclassical View of Aggregate Supply and Demand

In the neoclassical view of the macroeconomy, if capitalists find they are unable to sell all of their goods

Correct Answer
verified

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium. -Which neoclassical argument claims that prices and output react in a certain way to outside shocks so as to lead back to equilibrium?

Correct Answer
verified

According to conservative economists, involuntary unemployment

Correct Answer
verified
A

In the neoclassical view of the macroeconomy, any income not used for consumption

Correct Answer
verified

In the neoclassical view of the macroeconomy, the supply of savings is

Correct Answer
verified

Give a brief history of the evolution of the current traditional economic models of the ?macroeconomy. -Who was Wesley Mitchell? What was his argument against Say's law?

Correct Answer
Answered by ExamLex AI
The evolution of traditional economic mo...
View Answer

In the neoclassical view of the macroeconomy, investment spending is

Correct Answer
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B

Whats defention of terms: -Equilibrium

Correct Answer
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Progressive economists argue that conservatives tend to blame the unemployed for their own unemployment. What does this mean?

Correct Answer
verified

Some neoclassical economists argue that recessions are caused by

Correct Answer
verified

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium. -Do these three arguments support or oppose Say's law?

Correct Answer
verified

Compare and contrast the traditional and progressive views of unemployment in the macroeconomy. -What is the traditional view of involuntary unemployment?

Correct Answer
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Correct Answer
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Give a brief history of the evolution of the current traditional economic models of the ?macroeconomy. -What is the neoclassical response to Keynes' vision of business cycles?

Correct Answer
verified

In the neoclassical view of the macroeconomy, a temporary lack of demand for all goods and services will lead to

Correct Answer
verified

Compare and contrast the traditional and progressive views of unemployment in the macroeconomy. -How would conservative economists explain the high unemployment rates of the Great depression? How would progressive economists?

Correct Answer
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What are the three main markets that comprise market capitalism?

Correct Answer
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C

In the neoclassical view of the macroeconomy, too many workers seeking work or unemployment will lead to

Correct Answer
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Whats defention of terms: -outside shock

Correct Answer
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Correct Answer
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Exam 39: Neoclassical View of Aggregate Supply and Demand

In the neoclassical view of the macroeconomy, if capitalists find they are unable to sell all of their goods

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to conservative economists, involuntary unemployment

Correct AnswerverifiedA

In the neoclassical view of the macroeconomy, any income not used for consumption

Correct AnswerverifiedShow Answer

In the neoclassical view of the macroeconomy, the supply of savings is

Correct AnswerverifiedShow Answer

Give a brief history of the evolution of the current traditional economic models of the ?macroeconomy. -Who was Wesley Mitchell? What was his argument against Say's law?

Correct AnswerAnswered by ExamLex AIThe evolution of traditional economic mo...View AnswerShow Answer

In the neoclassical view of the macroeconomy, investment spending is

Correct AnswerverifiedB

Whats defention of terms: -Equilibrium

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Progressive economists argue that conservatives tend to blame the unemployed for their own unemployment. What does this mean?

Correct AnswerverifiedShow Answer

Some neoclassical economists argue that recessions are caused by

Correct AnswerverifiedShow Answer

Name the three markets that comprise the macroeconomy and explain how traditional economists come to the conclusion that all three markets tend to be in equilibrium. -Do these three arguments support or oppose Say's law?

Correct AnswerverifiedShow Answer

Compare and contrast the traditional and progressive views of unemployment in the macroeconomy. -What is the traditional view of involuntary unemployment?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Give a brief history of the evolution of the current traditional economic models of the ?macroeconomy. -What is the neoclassical response to Keynes' vision of business cycles?

Correct AnswerverifiedShow Answer

In the neoclassical view of the macroeconomy, a temporary lack of demand for all goods and services will lead to

Correct AnswerverifiedShow Answer

Compare and contrast the traditional and progressive views of unemployment in the macroeconomy. -How would conservative economists explain the high unemployment rates of the Great depression? How would progressive economists?

Correct AnswerverifiedShow Answer

What are the three main markets that comprise market capitalism?

Correct AnswerverifiedC

In the neoclassical view of the macroeconomy, too many workers seeking work or unemployment will lead to

Correct AnswerverifiedShow Answer

Whats defention of terms: -outside shock

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Correct AnswerverifiedShow Answer

Correct Answer
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A

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Correct Answer
Answered by ExamLex AI
The evolution of traditional economic mo...
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B

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C

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