Keynes, disagreeing with Classical economists, argued that wages and prices would adjust rather quickly, returning...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Keynes, disagreeing with Classical economists, argued that wages and prices would adjust rather quickly, returning our economy to full employment automatically. downward wage stickiness may leasd to prolonged periods of recession when aggregate demand falls. the aggregate supply curve is perfectly verical on the short run and the long run. The price level will never change and inflation is a hoax.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
