1.The assumptions of the New Keynesian theory (rational expectations and some price and wage rigidities) seem more...
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1.The assumptions of the New Keynesian theory (rational expectations and some price and wage rigidities) seem more reasonable to me than the assumptions of other theories in this chapter (e.g., the Friedman natural rate theory or the new classical theory). Does it follow that the New Keynesian theory is right and the others are wrong?
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