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Author Question: The term classical refers to an economic theory which states that over a relatively short period of ... (Read 73 times)

colton

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on: Jun 30, 2018
The term classical refers to an economic theory which states that over a relatively short period of time, wages and prices will adjust quickly to bring the economy back to full employment.
 
  Indicate whether the statement is true or false

Question 2

When the aggregate demand curve shifts ________ than the long-run aggregate supply shifts rightward, the result will be inflation.
 
  A) rightward at a faster rate B) leftward at a slower rate
  C) leftward at the same rate D) rightward at a slower rate
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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b614102004

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Reply #1 on: Jun 30, 2018
Answer to Question 1

TRUE

Answer to Question 2

A


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