Q. In the classical theory, one of the following is an important assumption: (Solved)
1. Wages and prices are inflexible
2. There is full employment
3. Agents are price setters
4. Adjustment is through quantity.
- b. There is full employment
1. Wages and prices are inflexible
2. There is full employment
3. Agents are price setters
4. Adjustment is through quantity.