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

Author Question: According to classical theory, a shift in aggregate demand will affect A) the price level only. ... (Read 50 times)

Shelles

  • Hero Member
  • *****
  • Posts: 582
on: Jun 29, 2018
According to classical theory, a shift in aggregate demand will affect
 
  A) the price level only.
  B) real Gross Domestic Product (GDP) only.
  C) the level of employment only.
  D) both real Gross Domestic Product (GDP) and the level of employment.

Question 2

Which of the following statements is FALSE?
 
  A) Economists empirically test their models.
  B) Economic models are not used to forecast.
  C) An economic model should capture only the essential relationships that are sufficient to analyze the particular problem being studied.
  D) Economic models relate to behavior rather than to individual thought processes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jliusyl

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


Shelles

  • Member
  • Posts: 582
Reply 2 on: Jun 29, 2018
:D TYSM

robbielu01

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

The Doppler Shift The Doppler Shift
Level II HCPCs Codes Cont. Level II HCPCs Codes Cont.
Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ... Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ...
Classical complement activations. IgM and IgG3, IgG1, and IgG2 activate the classical pathway of ... Classical complement activations. IgM and IgG3, IgG1, and IgG2 activate the classical pathway of ...
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Role of the respiratory system - effect of altered ventilation rates

For a complete list of videos, visit our video library