Those who favor passive policy making argue that all of the following exist EXCEPT
A) perfectly flexible wages and prices.
B) the trade off between inflation and unemployment is not stable in the short run and is non-existent in the long run.
C) pure competition is typical.
D) aggregate demand shocks can influence real GDP and unemployment.
D
Economics
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In which of the following industries are the firms price-takers?
a. monopoly b. monopolistically competitive c. monopoly and monopolistically competitive d. perfectly competitive e. perfectly competitive and monopolistically competitive
Economics
When thinking about the economic actions of groups of people, firms, and society, it is reasonable to analyze them with the tools of economic analysis. Discuss
Economics