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Which of the Following Is Consistent with the Classical Position

Question 127

Multiple Choice

Which of the following is consistent with the classical position on wages and prices?


A) Wages and prices are inflexible in the downward direction,but not in the upward direction.
B) Wages are inflexible in the downward direction,but prices are flexible.
C) Wages and prices are flexible.
D) Prices are inflexible in the downward direction,but wages are flexible.

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