The "efficiency wage" is one possible explanation for rigidities in the economy that lead to
economic instability.
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Q250: Mainstream economists contend that monetary policy tends
Q251: Mainstream economists have adopted some ideas from
Q252: If the money supply growth is set
Q253: Monetarists believe that a monetary policy rule
Q254: An efficiency wage is an above-market wage
Q256: New classical economists see the economy as
Q257: Most economists today would agree with the
Q258: Rational expectations theory suggests that changes in
Q259: Monetarists recommend that the supply of money
Q260: Rational expectations theory allows for temporary changes
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