Question
1.Classical economists assumed that wage rates, prices, and interest rates are flexible and will adjust quickly and instantaneously remove the economy from a recessionary or
1.Classical economists assumed that wage rates, prices, and interest rates are flexible and will adjust quickly and instantaneously remove the economy from a recessionary or inflationary gap while Keynesian believed that wages are inflexible. Hypothetically distinguish these two views and show what happen to economy in long run. (20 marks)
answer briefly please
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
