Multiple Choice
The classical economists believed that shifts in the AD and SAS curves offset each other such that the
A) price level rose and output fell unidirectionally given any change in aggregate demand.
B) unemployment level is constant.
C) price level is constant.
D) price level is cyclical.
Correct Answer:
Verified
Correct Answer:
Verified
Q79: Classical macroeconomists believed that a market-based economy
Q80: Keynes held out the possibility of "monetary
Q81: Which of the following factors will NOT
Q82: The AD curve will shift to the<br>A)right
Q83: The slope of the AD curve is
Q85: The SAS curve will be steeper the<br>A)greater
Q86: Suppose we have an initial equilibrium with
Q87: Figure 7-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2645/.jpg" alt="Figure 7-5
Q88: When AD curve is curved line,this indicates<br>A)a
Q89: In the short-run with fixed wages,the SAS