Multiple Choice
Say's law explains
A) how long-term real Gross Domestic Product (GDP) stability is achieved in the classical model.
B) how long-run real Gross Domestic Product (GDP) stability is achieved in the Keynesian model.
C) how the economy can go into recession.
D) why economies experience business cycles.
Correct Answer:
Verified
Correct Answer:
Verified
Q326: In an economic downturn, sticky wages and
Q327: Individuals will increase their saving as<br>A) the
Q328: Refer to the above figure. Suppose the
Q329: A short-lived increase in oil prices caused
Q330: Which of the following is NOT a
Q332: In the classical model, a rightward shift
Q333: According to classical economists, the credit market
Q334: If equilibrium level of real Gross Domestic
Q335: There is a distinction between the long-run
Q336: The equilibrating force in the credit market