Which of the following statements is INCORRECT?
A) A monetarist believes that recessions are the result of erratic monetary policy.
B) A classical macroeconomist believes that the money wage rate adjusts slowly.
C) A new classical macroeconomist believes the business cycle is the efficient response to the uneven pace of technological change.
D) A Keynesian believes the business cycle is mainly influenced by changes in people's expectations.
Correct Answer:
Verified
Q16: The short- run aggregate supply curve shifts
Q17: Which of the following statements is FALSE?
A)Taxes
Q18: An aggregate supply curve depicts the relationship
Q19: Keynesian macroeconomists recommend
A)policies that actively offset the
Q20: The long- run aggregate supply (LAS)curve
A)has a
Q22: Inflation occurs over time as a result
Q23: Which of the following increases aggregate demand
