Which of the following factors will not determine output and employment in the classical model?
A) Taxes that affect the incentive to work or hire labor
B) The level of government spending
C) The quantity of capital
D) Preferences for leisure
E) None of the above
Correct Answer:
Verified
Q21: Which of the following are endogenous variables
Q22: In the classical model,and increase in tax
Q23: A profit-maximizing firm hires labor until
A)the price
Q24: The aggregate demand curve for labor is
Q25: In the classical model,
A)firms are assumed to
Q27: With respect to the classical labor market
Q28: The marginal product of labor is
A)the
Q29: The classical model is a model in
Q30: In the classical model,the factors determining output
Q31: Figure 3.1
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