The old classical macroeconomic was based on an assumption of price and wage ________, and thus an economy that ________
A) flexibility, promptly self-corrected
B) flexibility, failed to self-correct promptly
C) stickiness, promptly self-corrected
D) stickiness, failed to self-correct promptly
A
Economics
You might also like to view...
M2 is the narrow measure of the money supply
a. True b. False Indicate whether the statement is true or false
Economics
Which of the following is true for a price-searcher firm?
a. Its marginal revenue curve will lie below its demand curve. b. Its marginal revenue curve will lie above its demand curve. c. Its marginal revenue curve is equal to its demand curve. d. Its marginal revenue curve is horizontal at the market equilibrium price.
Economics