A Fundamental Feature of Early Classical Macroeconomics Is That

question 127

Multiple Choice

A fundamental feature of early classical macroeconomics is that:

• A) aggregate demand and aggregate income are usually unequal.
• B) prices of inputs and outputs are usually relatively rigid.
• C) the economy's level of employment can remain substantially below its natural level over a long period.
• D) the economy can achieve full employment on its own, though there may be short periods in which employment falls below the natural level.

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Definitions:

Cycad

Type of gymnosperm with palmate leaves and massive cones; cycads are most often found in the tropics and subtropics.

Classified

Categorized or organized into groups based on shared characteristics or attributes.

Pollen Grains

Microscopic structures that carry the male gametes of seed plants and are necessary for fertilization of the female ovule.

Stamen

In flowering plants, the portion of the flower that consists of a filament and an anther containing pollen sacs where pollen is produced.