The_____ believe that it takes a long time for prices and wages to change to restore equilibrium in an economy.
A)Keynesians
B)classical economists
C)monetarists
D)institutional economists

Question

Quizplus · Accepted Answer

Keynesians argue that prices and wages are sticky, meaning they do not adjust quickly to changes in supply and demand, leading to periods of disequilibrium in the economy. This contrasts with classical economists, who believe in the rapid adjustment of prices and wages to achieve market equilibrium.

The_____ Believe That It Takes a Long Time for Prices