Classical economists assumed that wage rates prices and, Microeconomics

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Classical economists assumed that wage rates prices and

Classical economists assumed that wage rates, prices, and interest rates were flexible and would adjust quickly. Consider an extreme case: Suppose classical economists believed wage rates, prices, and interest rates would adjust instantaneously. What would this imply the classical aggregate supply (AS) curve would look like?

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Microeconomics: Classical economists assumed that wage rates prices and

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