The new Keynesian economists believed that:

a. wages and prices are flexible in the short run.
b. wages are flexible but prices are not flexible in the long run.
c. wages are not flexible but prices are flexible in the short run.
d. wages and prices are not flexible in the short run.
e. wages and prices are not flexible in the long run.

d

Economics

You might also like to view...

Why is there a price markup over marginal cost in monopolistic competition?

What will be an ideal response?

Economics

The critical determinant of real GDP per capita is

A) the size of the labor force. B) labor productivity. C) the population. D) the size of the working-age population.

Economics