Which statement is true?
A) Both Keynes and the classicals believed that equilibrium GDP and full employment GDP are equal.
B) Neither Keynes nor the classicals believed that equilibrium GDP and full employment GDP are equal.
C) Keynes believed that equilibrium GDP and full employment GDP are equal,but the classicals did not.
D) The classicals believed that equilibrium GDP and full employment GDP are equal,but Keynes did not.
Correct Answer:
Verified
Q2: Say's law
A)was a basic pillar of classical
Q3: According to the classicals,our economy can produce
Q4: The Keynesian and classical aggregate supply analyses
A)are
Q5: Which question did John Maynard Keynes pose
Q6: Keynes and the classicals used _ aggregate
Q7: The price level rises more rapidly as
Q8: Which best describes the classical theory of
Q9: At equilibrium GDP
A)Savings = investment,but aggregate demand
Q10: To fight a depression,Keynes said that the
Q11: When the average price level in the
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