Which of the following is a distinguishing characteristic of the neoclassical view?
A. increasing price levels will increase the unemployment rate
B. wages and real GDP are sticky over time
C. wages are maintained at original equilibrium
D. flexibility of wages and prices over time
Answer:D
Which of the following is a distinguishing characteristic of the neoclassical view?
A. increasing price levels will increase the unemployment rate B. wages and real GDP are sticky over time C. wages are maintained at original equilibrium D. flexibility of wages and prices over time
Explanation: Type: Multiple Choice