Homework answers / question archive / What happens if wages and prices adjust very quickly in response to the various shocks to the economy? Does this make business cycle, expansions, and contractions in the economy, shorter or longer?

What happens if wages and prices adjust very quickly in response to the various shocks to the economy? Does this make business cycle, expansions, and contractions in the economy, shorter or longer?

Business

Share With

What happens if wages and prices adjust very quickly in response to the various shocks to the economy? Does this make business cycle, expansions, and contractions in the economy, shorter or longer?