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 60 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
Gracias!

amynguyen1221

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Blue light is scattered more than other wavelengths by the gases in the atmosphere, giving the Earth Blue light is scattered more than other wavelengths by the gases in the atmosphere, giving the Earth
moon light moon light
Kinetic light sculptures Kinetic light sculptures
Change is hard at first messy in the middle and gorgeous at the end Change is hard at first messy in the middle and gorgeous at the end
A piece of glass has a thin film of gasoline floating on it. A beam of light is shining ... A piece of glass has a thin film of gasoline floating on it. A beam of light is shining ...
Light Brown Eye Color Light Brown Eye Color
Video: Sickle Cell Anemia

For a complete list of videos, visit our video library