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

Author Question: Q: How many economists does it take to change a light bulb? A: All. Because then you will generate ... (Read 59 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
Q: How many economists does it take to change a light bulb?
  A: All. Because then you will generate employment, more consumption, moving the aggregate demand curve to the right.
  This joke represents the view of
 
  A) classical economists.
  B) economists who contend that money illusion never occurs.
  C) Keynesian economists.
  D) economists who conclude that wages and prices are very flexible.

Question 2

What information is provided by the aggregate demand curve?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sarahccccc

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

The aggregate demand curve relates total planned real expenditures to each price level. The price level is measured by the GDP deflator. The lower is the price level, the higher are total planned real expenditures, other things being equal.


jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
Wow, this really help

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

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?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

When horses lie down to sleep, others in the herd remain standing, awake or in a light doze, keeping When horses lie down to sleep, others in the herd remain standing, awake or in a light doze, keeping
Sample Diet for a College-Aged Female Weighing 132 Pounds, Assuming Light to Moderate Daily ... Sample Diet for a College-Aged Female Weighing 132 Pounds, Assuming Light to Moderate Daily ...
The induced conformational change in hexokinase The induced conformational change in hexokinase
Ecological sensitivity to climate change Ecological sensitivity to climate change
Ancient Climate Change: Following the Cretaceous Ancient Climate Change: Following the Cretaceous
The change in the net of an irradiance, in Wm-2, at the tropopause The change in the net of an irradiance, in Wm-2, at the tropopause
Video: Global warming and its effect on climate change

For a complete list of videos, visit our video library