250-300 words no specific format. 2 References. Classical ec
250-300 words no specific format. 2 References. Classical ec.
250-300 words no specific format. 2 References. Classical economists belief that prices and quantitiesadjust to the changes in the forces of supply and demand and that the economyproduces its potential output in the long run. On the contrary, Keynesianeconomists believe because of price and wage rigidities the economy sequilibrium output in the long run may be less than its potential output.What is price-wage rigidity? Do you agree with Keynes assessment thatwage-price rigidity requires government s involvement in the markets? Why?Why not?
250-300 words no specific format. 2 References. Classical ec
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