23. According to the Neoclassical view, if there is a decline in the demand for labour and no change in labour supply, the labour market can come to equilibrium if a. Banks give out more loans b. There is a higher demand in the economy c. The workers accept real wage declines d. There is an increase in real wage
23. According to the Neoclassical view, if there is a decline in the demand for labour and no change in labour supply, the labour market can come to equilibrium if a. Banks give out more loans b. There is a higher demand in the economy c. The workers accept real wage declines d. There is an increase in real wage
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter26: The Neoclassical Perspective
Section: Chapter Questions
Problem 2SCQ: Legislation proposes that the government should use macroeconomic policy to achieve an unemployment...
Related questions
Question
Question 23
![23. According to the Neoclassical view, if there is a decline in the demand for labour and
no change in labour supply, the labour market can come to equilibrium if
a. Banks give out more loans
b. There is a higher demand in the economy
C.
The workers accept real wage declines
d.
There is an increase in real wage](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac8131b7-6e70-4d19-8318-0ff86405c273%2F4ee190f8-fd19-4b1f-8e1a-53a874769a92%2Ft67ycu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:23. According to the Neoclassical view, if there is a decline in the demand for labour and
no change in labour supply, the labour market can come to equilibrium if
a. Banks give out more loans
b. There is a higher demand in the economy
C.
The workers accept real wage declines
d.
There is an increase in real wage
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Macroeconomics](https://www.bartleby.com/isbn_cover_images/9781337617390/9781337617390_smallCoverImage.gif)
![Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337617383/9781337617383_smallCoverImage.gif)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Macroeconomics](https://www.bartleby.com/isbn_cover_images/9781337617390/9781337617390_smallCoverImage.gif)
![Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337617383/9781337617383_smallCoverImage.gif)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning