Use the Following Graph to Answer the Following Questions

question 146

Multiple Choice

Use the following graph to answer the following questions.The graph depicts an economy where aggregate demand has decreased.Note that long-run aggregate supply remains changed.

-In regard to describing how the economy functions,Keynesian economists claim that

• A) more focus should be placed on the long run than the short run.
• B) prices are sticky.
• C) savings is crucial to growth.
• D) the market tends toward stability and full employment.
• E) the economy does not need help in moving back to full employment.

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Definitions:

Double-subscripted Variables

Variables that are identified by two subscripts, often used to signify the position or relationship in a matrix or grid format.

Projected Number

An estimate or forecast of a numerical value or quantity in the future, based on current data and trends.

Standard Suites

This term is not well-defined in a general context and could possibly pertain to a specific industry’s set of benchmarks, guidelines, or specifications. Without additional information, a precise definition cannot be provided, so per instruction, NO.

Objective Function

a mathematical function that represents the goal of an optimization problem, typically maximizing or minimizing some quantity.