Social Studies, 14.04.2020 21:52, Kurlyash
Keynes believed that a. Say's law would hold in a laissez-faire economy. b. the economy would always be near or on its production possibilities frontier. c. wages and prices are often inflexible in the downward direction; wages and prices do not fall in the labor and product markets because unions dislike wage cuts and companies are a monopoly market. d. the equilibrium level of output will always be at the full-employment level of output.
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Mike and his wife, amanda, are arguing about his in-laws. mike doesnât want them to visit because they fight all the time when they come to the house and he is worried about the effect that their fighting is having on mike and amandaâs children. amanda finally yells out: âwhat about our fighting? â mike replies, âwell, thatâs different. we fight because weâre having a disagreement, they fight because they hate each other! â this is an example of
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Keynes believed that a. Say's law would hold in a laissez-faire economy. b. the economy would always...
Mathematics, 14.07.2019 00:20
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