Economy can never adjust to full employment

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The macro failure of unstable outcomes means that Multiple choice question. the market mechanism is broken, so an economy can never adjust to full employment. there is a lot of instability before reaching the full-employment equilibrium, but once there, the economy is stable. even if the designated macro equilibrium is optimal, it may be displaced by macro disturbances. the price-output relationship at equilibrium may not satisfy our macroeconomic goals.

Reference no: EM133636668

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