Classical economists assumed that wage rates, prices, and interest rates are flexible and will adjust quickly. Consider

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Classical economists assumed that wage rates, prices, and interest rates are flexible and will adjust quickly. Consider an extreme case: Suppose classical economists believed that wage rates, prices, and interest rates would adjust instantaneously.

What would the classical aggregate supply (AS)

curve look like? Explain your answer.

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Microeconomics

ISBN: 9780357720639

14th Edition

Authors: Roger A. Arnold, Daniel R Arnold, David H Arnold

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Question Posted: Nov 01, 2024 07:00 AM

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Classical economists assumed that wage rates, prices, and interest rates are flexible and will adjust quickly. Consider

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Microeconomics

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