Classical economists assume about the flexibility of prices

Reference no: EM13688708

What did classical economists assume about the flexibility of prices, wages and interest rates? What did this assumption imply about the self-correcting tendencies in an economy in recession? What disagreements did Keynes have with classical economists?

Reference no: EM13688708

Questions Cloud

Gasoline over the course of a week : Consider the following pair of goods. For which of the two goods would you expect the demand to be more price elastic? Why? Gasoline over the course of a week or gasoline over the course of a year. Personal computers or IBM personal computer

Production points along a production possibilities curve : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Demand curve for the perfect competitor is horizontal : The demand curve for the perfect competitor is horizontal because. For each example below, identify which statement is not characteristic of a perfectly competitive industry.

Classical economists assume about the flexibility of prices : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Some lenders charge an up-front fee on a loan : Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receive. This is typically described as "points"(where one point equals 1% of the loan amount).

Presume that there are two hats : Presume that there are two hats. Hat A contains one red and four blue marbles. Hat B contains two red and three blue marbles.

Calculate your annual rate of return : Your cousin Jeremy has asked you to bankroll his proposed business painting houses in the summer. He plans to operate the business for 5 years to pay his way through college.

User Account

All Pages