Exam 13: A Walk Through the Twentieth Century and Beyond

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The following data shows the labour demand and supply for the economy of Aimeng:  The following data shows the labour demand and supply for the economy of Aimeng:     a)What is the equilibrium wage rate,and how many workers would be employed? b)Suppose the wage rate is  \times 300,how many workers would be employed? c)Suppose the wage rate is  \times 900,how many workers would be employed? How many would be unemployed? a)What is the equilibrium wage rate,and how many workers would be employed? b)Suppose the wage rate is ×\times 300,how many workers would be employed? c)Suppose the wage rate is ×\times 900,how many workers would be employed? How many would be unemployed?

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What is the essential difference between the Keynesian and the Neoclassical views about the macroeconomy?

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Why did post-World War I boom not last?

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Which school of thought believed that long-run equilibrium occurs automatically and is the normal state of affairs in a market economy?

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What do Keynesians believe?

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