Which of the following is a definition of economic fluctuations?
A) Movements in prices around their long-run trend
B) Shifts in the long-run trend of output
C) Movements of the real wage over the long run
D) Shifts in the long-run trend of prices
E) Movements in output around its long-run trend
Correct Answer:
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Q5: According to Keynesian economists,
A) the economy will
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Q8: A key assumption of the classical model
Q10: John Maynard Keynes and his followers argued
Q11: What key observation did the classical model
Q12: The Classical model
A) is now discredited
B) was
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