One of the reasons why it can take a long time for an economy to adjust to a long run equilibrium when there is unemployment is that Select one: a.wages are sticky downwards. b.the government doesn't usually time policy intervention very well. c.the Reserve Bank typically keeps interest rates too high. d.the exchange rate is slow to adjust.

Economics (MindTap Course List)
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ISBN:9781337617383
Author:Roger A. Arnold
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Chapter16: Expectations Theory And The Economy
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One of the reasons why it can take a long time for an economy to adjust to a long run equilibrium when there is unemployment is that
Select one:
a.wages are sticky downwards.
b.the government doesn't usually time policy intervention very well.
c.the Reserve Bank typically keeps interest rates too high.
d.the exchange rate is slow to adjust.
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