This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following schools of thought believes that wages and prices are rigid in the short run? ... (Read 55 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
Which of the following schools of thought believes that wages and prices are rigid in the short run?
 a. Keynesians and new Keynesians
  b. Only monetarists
  c. Only new classical economists
  d. Monetarists and new classical economists
  e. Monetarists and Keynesians

Question 2

If the supply curve for aspirin is perfectly elastic, a reduction in demand will cause the equilibrium price to:
 a. rise and the equilibrium quantity to fall.
 b. rise and the equilibrium quantity to stay the same.
  c. fall and the equilibrium quantity to fall.
 d. stay the same and the equilibrium quantity to fall.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ksh22

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


Collmarie

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

aruss1303

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Frederic Edwin Church conveyed the romantic sensibility in Twilight in the Wilderness (1860). The cl Frederic Edwin Church conveyed the romantic sensibility in Twilight in the Wilderness (1860). The cl
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
Elizabeth, a married 35-year-old woman, always thought that she followed a sensible diet Elizabeth, a married 35-year-old woman, always thought that she followed a sensible diet
Thought Suppression (3 of 4) Thought Suppression (3 of 4)
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011 Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
A particle confined in a rigid one-dimensional box (an infinite well) of length 17.0 fm has an ... A particle confined in a rigid one-dimensional box (an infinite well) of length 17.0 fm has an ...
Video: Endocytosis -Types and Phagocytosis

For a complete list of videos, visit our video library