Pablo Believed That Short-Run Changes in Aggregate Demand Affected Aggregate

question 4

Multiple Choice

Pablo believed that short-run changes in aggregate demand affected aggregate output as well as the price level. He believed that there was a role for monetary policy in managing the economy, but he advocated a simple monetary rule that would increase the money supply at a constant rate to grow the economy. Pablo was BEST described as a:

• A) Keynesian.
• B) new classical economist.
• C) supply-sider.
• D) monetarist.

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