In the "non-market-clearing model" the level of final goods sales and unemployment during a recession are
A) the result of interactions between supply and demand.
B) higher than would be the case in a market clearing model.
C) caused by the rapid adjustment of prices and wages.
D) the result of wage and price rigidities.
D
Economics
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What is the aspect of imperfect competition that is most distinct from perfect competition?
A) free entry/exit B) perfect information C) differentiated products D) zero profits
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During the "computer revolution" of the 1980s and 1990s, many firms replaced old technology with new technology. What might explain why firms don't change technology as quickly today?
What will be an ideal response?
Economics