The notion of the "classical range" was one of the basic parts of the
A)supply curve.
B)present value curve.
C)aggregate demand curve.
D)aggregate supply curve.

Question

Quizplus · Accepted Answer

The "classical range" is a concept that is specific to the aggregate supply curve in macroeconomics. It refers to a range of output levels where the economy is operating at full employment and has flexible wages and prices, resulting in a vertical or nearly vertical aggregate supply curve. This concept is not relevant to the supply curve, present value curve, or aggregate demand curve.

The Notion of the "Classical Range" Was One of the Basic