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.
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)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter16: Expectations Theory And The Economy
Section: Chapter Questions
Problem 7QP
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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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