Multiple Choice
_____ school of thought would most likely be associated with the statement: "When wages are rigid, changes in output result in small changes in goods market prices and a relatively flat aggregate supply curve."
A) The traditional Keynesian
B) The modern Keynesian
C) The Monetarist
D) The classical
E) The new classical
Correct Answer:
Verified
Correct Answer:
Verified
Q2: According to the traditional Keynesian school of
Q3: According to the monetarists, deliberate government intervention:<br>A)will
Q4: Monetarists think that the government:<br>A)should take an
Q5: Keynesian economists today favor a model in
Q6: According to classical economics:<br>A)real GDP is determined
Q7: Traditional Keynesians would argue that fluctuations in
Q8: The effect lag occurs because it takes
Q9: Which of the following events challenged Keynesian
Q10: The new Keynesians believe that the economy
Q11: New classical economists advocate less government intervention