The classical theory of employment held that
A) total consumption would always equal total saving.
B) the savings of wealthy households would be borrowed and spent on consumer goods by poor households.
C) investment might either be less than,or greater than,saving.
D) the savings of households would all be borrowed and invested by businesses.
Correct Answer:
Verified
Q35: John Maynard Keynes
A)agreed with classical writers that
Q36: Increases in aggregate demand
A)lead to increases in
Q37: Classical economics was based upon the belief
Q38: As the maximum output level (real GDP)is
Q39: If the economy is in the vertical
Q41: If the aggregate supply curve is upward
Q42: According to the classical economists
A)a market economy
Q43: The curve showing the amount of real
Q44: The aggregate supply curve shows
A)how the cost
Q45: If the aggregate supply curve is horizontal,
A)there
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