Classical Economists Believe That in the Short Run, in the Real

question 30

Multiple Choice

Classical economists believe that in the short run, in the real world:

• A)prices and wages are flexible.
• B)prices and wages aren't flexible enough to bring about equilibrium.
• C)prices are flexible but wages were not flexible.
• D)wages are flexible but prices were not flexible.

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Definitions:

Key Problems

Fundamental or significant issues that need to be addressed to achieve goals or improve situations.

Linking Pins

Represent individuals or entities that connect different groups or levels within an organization, facilitating communication and coordination.

Interlocking Networks

A concept in organizational theory where multiple members of a board of directors serve on the boards of multiple corporations, often leading to high levels of connectivity and potential conflicts of interest.

Empowerment

What enables others to gain and use decision-making power.