Classical economists believe that prices are ____ and that recessions will be relatively ____.
A) inflexible; long
B) inflexible; brief
C) flexible; brief
D) flexible; long
Correct Answer:
Verified
Q136: A recession is generally caused by:
A) an
Q139: Exhibit 22-3 Q142: Discuss the difference between an increase in Q143: Say's law dictates that: Q164: Demand-pull inflation is caused by: Q170: Which of the following would lead to Q178: If there was no profit effect, but Q187: The aggregate demand curve portrays the relationship Q195: What are the major factors that determine Q206: How will firms react to rising output
A) demand creates its
A)an increase in
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