Author Question: Which of the following never assumes, either implicitly or explicitly, independence between nominal ... (Read 94 times)

abern · **on:** Jun 30, 2018

Which of the following never assumes, either implicitly or explicitly, independence between nominal and real variables?

A) the AS curve
B) the Phillips curve
C) Okun's law
D) the classical dichotomy
E) none of the above

Question 2

In the Keynesian consumption function

a. consumption is a constant fraction of income.
b. the marginal propensity to consume is constant.
c. disposable income determines consumption.
d. All of the above
e. None of the above