Multiple Choice
The model of aggregate demand and aggregate supply
A) is different from the model of supply and demand for a particular market,in that we cannot focus on the substitution of resources between markets to explain aggregate relationships.
B) is different from the model of supply and demand for a particular market,in that we have to separate real and nominal variables in the aggregate model.
C) is a straightforward extension of the model of supply and demand for a particular market,in which substitution of resources between markets is highlighted.
D) is a straightforward extension of the model of supply and demand for a particular market,in which the interaction between real and nominal variables is highlighted.
Correct Answer:
Verified
Correct Answer:
Verified
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