John Maynard Keynes argued that _______
A) flexibility in wages and prices could block adjustments to full employment.
B) stickiness in wages and prices could block adjustments to full employment.
C) wage and price rigidities were caused by producer and consumer expectations about future prices.
D) wage and price rigidities could be eliminated by government wage and price setting.
Correct Answer:
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Q1: In the 1960s, despite the successful application
Q3: Which of the following is true about
Q4: According to early classical macroeconomics, unemployment
A) can
Q5: An important distinction between the classical and
Q6: During the Great Depression, investment plummeted because
A)
Q7: Early classical macroeconomics was based largely on
Q8: Which component of aggregate demand plunged sharply
Q9: A fundamental feature of early classical macroeconomics
Q10: Which of the following factors contributed to
Q11: Classical economists believed
I. there could be temporary
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