The conclusion that the economy has price flexibility, wage flexibility, and perfectly competitive markets justifies
A) rational policy making. B) passive policy making.
C) active policy making. D) none of the above.
B
Economics
You might also like to view...
The Heckscher-Ohlin model is an alternative to the classical theory of international trade that focuses on the factors of production that countries possess
Indicate whether the statement is true or false
Economics
Suppose the real gross domestic product (GDP) equals $100 billion this year and the nominal gross domestic product (GDP) is $200 billion. This implies that the price level has increased by _____
a. $200 billion b. 50 percent c. $100 billion d. 100 percent e. 200 percent
Economics