An assumption of the classical model is that
A) money illusion is widespread.
B) people make decisions based on nominal prices rather than real prices.
C) prices are flexible while wages are inflexible.
D) people are motivated by self-interest.
D
Economics
You might also like to view...
What types of government intervention did the World Bank determine was common in the HPAEs?
What will be an ideal response?
Economics
The unemployment rate for younger workers is usually ________ the unemployment rate for older workers.
A. higher than B. lower than C. approximately equal to D. more predictable than
Economics