What Are the Views of the New Classical Economists and the Gradual

question 93

Essay

What are the views of the new classical economists and the gradual monetarists with regards to the speed of adjustment of an economy to long-run equilibrium?

---

Definitions:

Private-label Brands

Brands owned by a retailer or supplier that are sold exclusively in their own stores or outlets.

Perceptual Map

A visual representation that depicts consumers' perceptions of competing products or brands relative to one another along various dimensions.

Brand Insistence

The condition in which consumers persist in preferring and choosing one brand over its competitors, regardless of changes or alternatives offered.

Manufacturer Brands

are brands created and owned by producers or manufacturers of goods and services, as opposed to retailer or private label brands.