Macroeconomics
Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 9.1, Problem 3ST
To determine

Explain the classical position on prices and wages.

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What is the classical economics position on (a) wages, (b)prices, and (c) interest rates?
What could make unemployment and inflation rise at the same time?
Is there any policy that can immediately reduce unemployment and inflation rate?
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