Multiple Choice
According to classical economists, the aggregate supply curve is _____, but according to Keynes, it is _____.
A) vertical in the short run; upward sloping in the short run
B) upward sloping in the short run; vertical in the short run
C) upward sloping in the short run; horizontal in the short run
D) downward sloping in the long run; always vertical
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The predominant economic thinking up to the
Q3: The _ has the official role of
Q4: Pablo believed that short-run changes in aggregate
Q5: Proponents of rational expectations believe that:<br>A) changes
Q6: The Great Moderation consensus is the school
Q7: Nearly all economists agree that central banks
Q8: According to the Great Moderation consensus, fiscal
Q9: The theory of rational expectations is consistent
Q10: Many economists argued against using discretionary fiscal
Q11: If a contraction in aggregate demand causes