The classical economists believe that prices and wages quickly adjust to keep the economy operating at full employment
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
According to the Romer model, tax incentives to support research and development will lead to ________
A) higher tax rates in the future B) an increase in the general level of prices C) a decrease in the general level of prices D) increased per capita income
Economics
Which of the following algebraic forms for a demand curve yields an isoelastic demand curve?
A) Q = a - b log(P) + c log(I) B) Q = a - bP + cI C) log(Q) = a - b log(P) + c log(I) D) log(Q) = bP + cI
Economics