The main difference between market-clearing and non-market-clearing models of the economy is

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Market-clearing models assume that markets adjust quickly to clear any excess supply or demand, including wages and prices. Non-market-clearing models, on the other hand, assume that there may be frictions or rigidities in the economy that prevent these adjustments from happening quickly. As a result, non-market-clearing models tend to have less wage and price flexibility in the short run.

The Main Difference Between Market-Clearing and Non-Market-Clearing Models of the Economy