In the Simple Keynesian Model,equilibrium Aggregate Output Is Determined by

question 61

Multiple Choice

In the simple Keynesian model,equilibrium aggregate output is determined by

• A)aggregate demand.
• B)aggregate supply.
• C)the national demand for labor.
• D)the price level.

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Definitions:

Relevant Costs

Costs that will be affected by a decision and hence should be considered in the decision-making process.

Milling Machine Constraint

A limitation or bottleneck in the production process caused by the capacity or capability of the milling machine.

Productive Capacity

The maximum output level that a company can sustain to produce in a given period under normal circumstances.

Mixing Machines

Equipment used in various industries to blend or mix ingredients into a homogenous substance.