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Social Studies, 14.04.2020 21:52 Kurlyash
Keynes believed that a. Say's law would hold in a laissez-faire economy. b. the economy would always be near or on its production possibilities frontier. c. wages and prices are often inflexible in the downward direction; wages and prices do not fall in the labor and product markets because unions dislike wage cuts and companies are a monopoly market. d. the equilibrium level of output will always be at the full-employment level of output.
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Keynes believed that a. Say's law would hold in a laissez-faire economy. b. the economy would always...
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