The neoclassical perspective argues that, in the long run, the economy will adjust back to its potential GDP level of output through ______________ price levels.
a. flexible
b. fixed
c. restricted
d. downward
a. flexible
Economics
You might also like to view...
Information advertising might provide information about prices in stores, or it might provide information about product characteristics that consumers might not know about. Which one do you think is more likely to be efficient?
What will be an ideal response?
Economics
All of the points on a budget line result in combination of goods that expend all of her income.
Answer the following statement true (T) or false (F)
Economics
Give two reasons why GDP does not reflect total production in an economy
What will be an ideal response?
Economics
When the government budget deficit increases, national saving decreases
a. True b. False Indicate whether the statement is true or false
Economics