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Author Question: Which of the following assumptions is crucial to the classical model but not the Keynesian model? ... (Read 194 times)

plus1

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on: Jun 30, 2018
Which of the following assumptions is crucial to the classical model but not the Keynesian model?
 
  a. The real wage always equals the marginal product of labor.
  b. Real wages are perfectly flexible.
  c. nominal wages are perfectly flexible.
  d. monetary policy primarily affects aggregate demand.
  e. both b and c.

Question 2

What did the fiscal conservatives of the Eisenhower administration (195361) want?
 
  (a) Balanced budgets and with manageable inflation
  (b) Inflation and budget surpluses
  (c) A balanced budget and high rates of interest
  (d) Laissez-faire economy


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aadams68

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

(a)


plus1

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Reply #2 on: Jun 30, 2018
Thank you :)


aadams68

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Reply #3 on: Jun 30, 2018
Happy to help you


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