Answer: It has been estimated that only one in ten ships trying to evade the blockade were intercepted. However, the Union Navy gradually increased in size throughout the war, and was able to drastically reduce shipments into Confederate ports.
Explanation:
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Full question:</u></h3>
Why is persistent unemployment a possibility in the Keynesian model but NOT in the classical model?
A) The Keynesian model assumes that the level of real GDP is inflexible.
B) The Keynesian model assumes that people work for motives other than those of earning an income for themselves and supporting a family.
C) The Keynesian model assumes that workers can lose their jobs to foreign competition during economic downturns.
D) The Keynesian model assumes that nominal wages are inflexible downward.
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The Keynesian model assumes that nominal wages are inflexible downward - is persistent unemployment a possibility in the Keynesian model
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The classical model is quite the usual microeconomic principles. Keynes claimed that the classical model is not common. In the classical model, the basis for the rationalizing is notional demand and supply, which implies market equilibrium. Keynes proposed the idea of aggregate demand, the overall demand for products and services in the economy.
Keynes supposed that the unemployment force persists regularly. Keynes was suspicious that the economic dominance of demand and supply drive the economy to a common equilibrium. Rising government spending or cutting taxes will boost aggregate demand.
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The range consists exclusively of one or more isolated values. it can be described as "intervals."
<h3>What is intervals?</h3>
An interval is a range of numbers that includes all of the real numbers that exist between two given numbers.
Some key points related to intervals are-
- You may recognize, real numbers can be pretty much any number: 4.26, 17, √7, -0.257, π, etc.
- When the meteorologist predicted that there might be at least 3 inches of snow but no more than 8 inches, he characterized the snowfall amount in intervals!
- Inequalities, a numeric line, or interval notation can all be used to write intervals!
- There are special methods to indicate whether or not the given two numbers, recognized as endpoints, are within the interval.
- Math inequalities are represented by the symbols less than, less than or equal to, greater than, & greater than or equal to.
To know more about the intervals, here
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Answer:
the current price is below the equilibrium price.
Explanation:
At this point where quantity demanded (2,000 units) is greater than quantity supplied (1,000) units, then there is shortage in the market, which means, the current price/ market price is below the equilibrium.
Price equilibrium is a term that describes the point at which the quantity supplied equals quantity demanded. It is represented on a graph, where the curve of demand quantity intersects with supply quantity.
