From 1990 to 1995, the U.S. economy was in a recessionary gap. According to the classical economists, which of the following should have occurred? Group of answer choices interest rates should have fallen which would increase consumer and investment spending prices should have fallen which would increase consumer spending all of the above should have occurred wages should have fallen which would cause more workers to be hired
From 1990 to 1995, the U.S. economy was in a recessionary gap. According to the classical economists, which of the following should have occurred? Group of answer choices interest rates should have fallen which would increase consumer and investment spending prices should have fallen which would increase consumer spending all of the above should have occurred wages should have fallen which would cause more workers to be hired
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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From 1990 to 1995, the U.S. economy was in a recessionary gap. According to the classical economists, which of the following should have occurred?
Group of answer choices
interest rates should have fallen which would increase consumer and investment spending
prices should have fallen which would increase consumer spending
all of the above should have occurred
wages should have fallen which would cause more workers to be hired
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