According to Classical Macroeconomic Theory

question 30

Multiple Choice

According to classical macroeconomic theory:

• A) output is determined by the level of aggregate demand
• B) the price level is, in the long run, relatively unresponsive to changes in aggregate demand
• C) the interest rate adjusts to balance the supply and demand for loanable funds
• D) none of the above
• E) all of the above

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Definitions:

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A German physician and anthropologist known for his advancements in public health, pathology, and social medicine; often called the father of modern pathology.