Author Question: The real output of the economy under conditions of full employment A) is long-run aggregate ... (Read 53 times)

serike · **on:** Jun 30, 2018

The real output of the economy under conditions of full employment

A) is long-run aggregate demand. B) is long-run aggregate supply.
C) happens only when there is no inflation. D) is determined by the real-balance effect.

Question 2

The first systematic attempt to explain the determinants of the price level and national levels of income, employment, consumption and real Gross Domestic Product (GDP) was made by ________ economists.

A) supply-side B) classical C) Keynesian D) monetarist