Business
Business, 21.02.2020 02:51, jeffreydaboy1223

John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economy:

a. Could get stuck in long-run equilibrium.
b. Could get stuck in a recessionary gap.
c. Could get stuck in an inflationary gap.
d. Would always produce more than Natural Real GDP.
e. b and c

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Answers: 1

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John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, a...

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