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

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2 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 will adjust instantaneously.

What would the classical aggregate supply (AS)

curve look like? Explain your answer.

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Economics

ISBN: 9780324595420

9th Edition

Authors: Roger A. Arnold

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Question Posted: Nov 02, 2024 09:00 AM

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

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Economics

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