Which of the Following Perspectives Believes That Both Wages and Prices

question 20

Multiple Choice

Which of the following perspectives believes that both wages and prices are stuck in the immediate short run and that prices are inflexible downward but flexible upward?

• A) monetarism
• B) mainstream economists
• C) rational expectations economists
• D) None of these-they all see wages and prices as flexible.

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Definitions:

Agonists

Substances that activate receptors to produce a biological response.

Genes

Units of heredity made up of DNA that are responsible for determining the characteristics and traits passed from parents to offspring.

Positively Charged

A positively charged object has more protons than electrons, resulting in a net positive electric charge.

Sodium Ions

Positively charged atoms (cations) of sodium, crucial for various physiological processes including nerve impulse transmission and muscle contraction.