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Compare the classical and Keynesian views on the speed of wage and price adjustment. What are the important consequences of the differences in their views?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Compare the classical and Keynesian views on the speed of wage and price
adjustment. What are the important consequences of the differences in their
views?

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