A Vertical Aggregate Supply Curve Was Postulated by the Classical

question 223

Multiple Choice

A vertical aggregate supply curve was postulated by the classical economists because they believed that

• A)the economy almost always had a large quantity of unemployed resources.
• B)the economy could come to equilibrium at any level of output,not necessarily that level required to fully employ society's resources.
• C)the economy naturally tended toward that level of output which would fully employ all resources.
• D)it would be possible to increase output without driving up prices by putting unemployed resources to work.

---

Definitions:

Doubters of Change

Individuals who are skeptical or resistant to organizational changes, potentially hindering the change process.

Value of Change

Refers to the benefits or improvements that result from implementing changes within an organization or system.

Identity Gap

The discrepancy between individuals' perceptions of their real self and their desired self, often leading to internal conflict and stress.

Acceptance of Change

The level at which individuals or organizations adapt to or embrace new policies, procedures, or environments without significant resistance.