Which of the following is NOT associated with the new Keynesian economics?
A) small-menu cost theory
B) market-clearing models to explain business cycles
C) inflation dynamics
D) sticky-price theories of real GDP determination
B
Economics
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What is the logic behind the theory of purchasing-power parity?
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If a firm's labor input response to a decrease in the wage differs between the short and the long run, we know that more workers will be hired after the initial short run adjustment.
Answer the following statement true (T) or false (F)
Economics