Question 1
According to ________, the level of employment is determined by the level of aggregate demand for goods and services.
◦ Keynes
◦ Marx
◦ the Classicals
◦ supply-side economists
Question 2
Classical economists defended the economic concept of
◦ government intervention in the marketplace.
◦ prolonged recession and high rates of unemployment.
◦ market clearing.
◦ Keynesian economists.