Question: 1) What is the difference between the long run neoclassical theory and the short run neoclassical theory? Explain. 2) Compare and contrast the main

1) What is the difference between the long run neoclassical theory and

1) What is the difference between the long run neoclassical theory and the short run neoclassical theory? Explain. 2) Compare and contrast the main elements of the neoclassical theory with those of Post-Keynasian and Institutional economics in their visions to look for labor economics. 3) Which theory predicts an unambiguously downward sloping labour demand curve? Explain. 4) Explain the link between Neoclassical Economics and the Internal Labour Market. 5) Explain the term "labor mobility" and describe three measures that a government could introduce to improve it. 6) Explain the effect of a wage increase on the supply of labor at the market level.

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1 The difference between the longrun neoclassical theory and the shortrun neoclassical theory lies in their assumptions and time horizons The shortrun neoclassical theory assumes that prices and wages ... View full answer

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