Author Question: Which of the following statements is (are) correct? In the classical system, a. aggregate demand ... (Read 59 times)

khang

  • Hero Member
  • *****
  • Posts: 569
Which of the following statements is (are) correct? In the classical system,
 
  a. aggregate demand is the primary determinate of the natural rate of output and employment.
  b. both output and employment are self-adjusting towards the natural rates of output and employment.
  c. changes in aggregate supply drives changes in output in the short-run and in the long-run.
  d. only output is self-adjusting to the supply-determined full-employment levels.

Question 2

The position of the Keynesian aggregate demand schedule does not depend on the
 
  a. level of government spending.
  b. level of tax collections.
  c. level of autonomous investment expenditures.
  d. quantity of money.
  e. the price of inputs such as oil.



bfulkerson77

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

B

Answer to Question 2

E



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

For a complete list of videos, visit our video library