EBK MACROECONOMICS
EBK MACROECONOMICS
10th Edition
ISBN: 9780134896571
Author: CROUSHORE
Publisher: VST
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Chapter 1, Problem 9RQ
To determine

The different views on the speed of adjustments of prices and wages according to the Classical and Keynesian schools of thought and the key consequences of such varying views.

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Compare the classical and Keynesian views on the speed of wage and priceadjustment. What are the important consequences of the differences in theirviews?
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