According to classical theory, a shift in aggregate demand will affect
A) the price level only.
B) real Gross Domestic Product (GDP) only.
C) the level of employment only.
D) both real Gross Domestic Product (GDP) and the level of employment.
Correct Answer:
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Q41: In economics, investment is defined as
A) the
Q42: According to classical theory, total employment and
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Q44: The classical economists argued that planned saving
Q45: Classical economists argued that
A) there would always
Q47: According to the classical model, an increase
Q48: In the classical model, desired saving
A) exceeds
Q49: According to classical theory, full employment in
Q50: According to classical economists, a decrease in
Q51: In the classical model, the aggregate supply
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