The flexible-price assumption means most importantly
A) that supply equals demand in the labor market.
B) that the economy reaches an equilibrium at which there is unemployment.
C) that there is always excess demand in the labor market.
D) that wages are always decreasing.
Correct Answer:
Verified
Q1: The flexible-price assumption means that
A) prices and
Q3: Each of the following is a key
Q4: Each of the following is a key
Q5: Each of the following is a key
Q6: Each of the following is a key
Q7: Each of the following is a key
Q8: Two sets of factors determine the levels
Q9: The Classical assumption that prices adjust rapidly
Q10: The Classical assumptions of the macroeconomy include
Q11: The Classical assumptions of the macroeconomy include
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