Classical economists think prices and quantities respond to supply and demand and the economy produces its potential output over time. However, Keynesian economists believe pricing and wage rigidities may lower the economy's long-term equilibrium output. Do you agree with Keynes assessment that wage-price rigidity requires government's involvement in the markets? Why? Why not?
Classical economists think prices and quantities respond to
Economists refers to those social scientists who concentrate on the production, distribution, and consumption of goods and services. They investigate economic information and foster speculations to make sense of how the economy works and how it tends to be gotten to the next level. Economists work in different settings, including academia, government, and the confidential sector.
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