Classical Analysis States That in the Long Run, Aggregate Supply

question 285

True/False

Classical analysis states that in the long run, aggregate supply is vertical and fixed at full employment, and changes in the money supply result directly in changes in the price level.

---

Definitions:

Irrational Opinions

Irrational opinions are beliefs or judgments that are not based on reason or logical thinking but on emotions or flawed reasoning.

Discrimination

The unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.

Stereotypes

Overgeneralized beliefs about a particular category of people, which can lead to prejudiced attitudes and behaviors.

Prejudice

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience, often manifesting as bias or discrimination.