This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The school of thought that assumes that real GDP is determined by aggregate supply, whereas the ... (Read 52 times)

Pea0909berry

  • Hero Member
  • *****
  • Posts: 573
on: Jun 30, 2018
The school of thought that assumes that real GDP is determined by aggregate supply, whereas the equilibrium price level is determined by aggregate demand is known as _____.
 a. neoclassical economics
  b. classical economics
  c. new Keynesian economics
  d. Keynesian economics
  e. Marxist economics

Question 2

If the supply curve for a product is horizontal, then the elasticity of supply is:
 a. equal to zero.
 b. equal to one.
 c. greater than one but less than infinity.
  d. equal to infinity.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cclemon1

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Pea0909berry

  • Member
  • Posts: 573
Reply 2 on: Jun 30, 2018
Wow, this really help

jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Sugar Cube-Sized Robotic Ants Mimic Real Foraging Behavior Sugar Cube-Sized Robotic Ants Mimic Real Foraging Behavior
Treating the younger school-age child Treating the younger school-age child
Secondary School Enrollment Worldwide Secondary School Enrollment Worldwide
Frederick Douglass, having escaped from slavery in 1836, attracted large audiences as an antislavery Frederick Douglass, having escaped from slavery in 1836, attracted large audiences as an antislavery
In 1879 an army officer founded the Carlisle School in Pennsylvania to “civilize” young Indians. The In 1879 an army officer founded the Carlisle School in Pennsylvania to “civilize” young Indians. The
Comparison of Principles of Abstinence-Only and Comprehensive Sex Education in the Public School Sys Comparison of Principles of Abstinence-Only and Comprehensive Sex Education in the Public School Sys
Video: Stress and Immune System Animation

For a complete list of videos, visit our video library