An economist from which school of thought would be most likely to say the following- "An increase in government expenditure will only increase inflation, because the aggregate supply curve is vertical."
A)Neoclassical economics
B)Traditional classical economics
C)New Keynesian economics
D)Keynesian economics
E)Marxist economics

Question

Quizplus · Accepted Answer

This statement is consistent with the traditional classical economic school of thought, which believes that the aggregate supply curve is vertical and any increase in aggregate demand will only lead to an increase in prices, not output.

An Economist from Which School of Thought Would Be Most