New Keynesian economists believe that nominal wages and prices respond ________ to shocks, and classical economists believe that nominal wages and prices respond ________ to shocks
A) quickly; quickly
B) quickly; slowly
C) slowly; quickly
D) slowly; slowly
C
Economics
You might also like to view...
Suppose an economy experiences a permanent increase in its natural unemployment rate. This change leads to
A) a downward movement along the short-run Phillips curve. B) a leftward shift of the short-run Phillips curve. C) a rightward shift of the short-run Phillips curve. D) an upward movement along the short-run Phillips curve. E) no change in the short-run Phillips curve.
Economics
What is the Celler-Kefauver Act?
What will be an ideal response?
Economics