Question
Suppose an economy is experiencing a decrease in aggregate demand. Discuss the automatic process that will bring this economy back to the long-run equilibrium in
Suppose an economy is experiencing a decrease in aggregate demand. Discuss the automatic process that will bring this economy back to the long-run equilibrium in the absence of the government intervention. What role, if any, does "wage stickiness" play in this process?
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Economics Today
Authors: Roger LeRoy Miller
16th edition
132554615, 978-0132554619
