If an Economist Argues That Equilibrium Output Differs from Potential

question 34

Essay

If an economist argues that equilibrium output differs from potential output,is that economist most likely a Keynesian or Classical economist?

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Definitions:

Anhedonia

A state in which an individual cannot derive pleasure from normally enjoyable activities.

Delusions

False beliefs held with strong conviction, despite superior evidence to the contrary, often observed in psychiatric conditions.

Illusions

Perceptual experiences that do not match the physical reality of the external world, often revealing significant insights into how human sensory systems work.

Psychoactive Substances

Chemicals that affect the brain, altering mood, perception, or consciousness, including legal and illegal drugs.