Which of the following statements concerning Keynesian analysis are true?
A) Keynes's analysis started with the recognition that the total quantity demanded of an economy's output was the sum of four types of spending: consumer expenditure,planned investment spending,federal government spending,and state and local government spending.
B) Keynes recognized that equilibrium would occur in the economy when total quantity of output supplied (aggregate output produced) equals quantity of output demanded (Yad) ,that is,when Y = Yad
C) Keynes's analysis involves explaining why wage rates are at a certain level by understanding what factors affect labor demand and why this could cause output to be greater than the economy is capable of producing,resulting in high inflation.
D) Keynes's analysis explains how the price level will change when the total quantity of output supplied changes.
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