Author Question: In traditional Keynesian economics: a. the aggregate supply curve is vertical. b. the aggregate ... (Read 78 times)

Sufayan.ah · **on:** Jun 30, 2018

In traditional Keynesian economics:
a. the aggregate supply curve is vertical.
b. the aggregate supply curve is horizontal.
c. the aggregate supply curve is upward-sloping.
d. the aggregate demand curve is horizontal.
e. the aggregate demand curve is vertical.

Question 2

When a product's price increases from 9 to 11, the quantity demanded decreases from 1200 to 800 . Based on this information, the price elasticity of demand (in absolute terms) is estimated to be equal to:
a. 0.5.
b. 2.0.
c. 0.25.
d. 4.0.