Question
AS-AD Model: Consider the short-run model of the economy and answer the following questions: a. The key difference between the long-run and short-run model is
AS-AD Model: Consider the short-run model of the economy and answer the following questions:
a. The key difference between the long-run and short-run model is the assumption that prices are flexible. In the short-run prices are assumed to be fixed or, at least, prices are expected not to fall. Why might prices be sticky downward?
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Microeconomics
Authors: Roger A Arnold
13th Edition
1337617407, 9781337617406
