Do you personally believe that wages and prices adjusted downward in this past recession. Did you see housing prices come down, medical prices, milk and bread prices, gas prices, or insurance costs (for example).

Recessions and price levels;  are you a classicalist or a keysian ( hint – there is no right or wrong answer) ? a) According to figure 7-9 and most classical economist (those that believe in free markets and most likely, those associated with the Republican Party) believe that when there is a recession, the wage […]