Question

In the context of classical macro economics, the demand and supply of
labour together can determine the following:
a)Real Wages, Employment and Real Output
b) Real Wages and Real Unemployment
c)Nominal Wages, Nominal Employment and Nominal Output
d)Production function, Income and Output​

Answer 1

Explanation:

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Answer 2

(d) Production function , Income and Output

Explanation:

Classical macroeconomic theory is founded on the assumption that prices and nominal wages are fully flexible, meaning they adjust to clear markets on a regular basis.

The equilibrium of the labour market is determined by the intersection of labour demand and supply.

Equilibrium of labour market determines the level of employment, national output and production function.