According to the classical model, prices and wages
A) must be set by government.
B) move upward easily, but are "sticky" downward.
C) are flexible.
D) move downward easily, but are "sticky" upward.
C
Economics
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What are the implications of the quantity theory of money for monetary policy and price stability?
What will be an ideal response?
Economics
A market is said to "clear" when
A) sellers give up selling their goods because they can't find any buyers. B) buyers and sellers are able to buy and sell as much as they want at the market price. C) the government decides to shut it down. D) sellers run out of goods to sell.
Economics