Which of the following statements is correct? Classical economists
a. believe demand as well as supply determines aggregate output.
b. believed in an active role for government in managing the economy through tax policy.
c. gave little explicit attention to factors that determined the overall demand for commodities.
d. were worried about depressions that could come about because of too little government consumption.
Question 2
The more limited information, the _____ the new classical AS curve.
a. flatter.
b. steeper.
c. horizontal.
d. downward sloping.
e. none of the above.
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