THE REALTY OF SHORT RUN FLUCTUATIONS
Do these assumptions of classical macroeconomic the apply to the world in which we live? The answer to this question is of central importance to understanding how the economy works. Most economists believe that classical theory describes the world in the long run but not in the short run.
Related Economics Assignments
WHY THE AGGREGATE-SUPPLY CURVE SLOPES UPWARD IN THE SHORT RUN
THREE KEY FACTS ABOUT ECONOMIC FLUCTUATiONS
EXPLAINING SHORT RUN ECONOMIC FLUCTUATIONS
USING AGGREGATE DEMAND AND AGGREGATE SUPPLY TO DEPICT LONG-RUN GROWTH AND INFLATION
WI-f’I THE LONG-RUN AGGREGATE-SUPPLY CURVE MIGHT SHIFT
THE ASSUMPTIONS OF ClASSICAl ECONOMICS
Two CAUSES OF ECONOMIC FLUCTUATIONS
THE MODEL OF AGGREGATE DEMAND AND AGGREGATE SUPPLY