According to the Classical Dichotomy,which of the Following Is Not

question 131

Multiple Choice

According to the classical dichotomy,which of the following is not influenced by monetary factors?

• A)real GDP.
• B)real wages.
• C)real interest rates.
• D)All of the above are correct.

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Definitions:

Gross Domestic Product

The total value of all goods and services produced over a specific time period within a country's borders.

Allocative Efficiency

an optimal distribution of resources in an economy, ensuring that goods and services are distributed according to consumer preferences.

Per-Capita Output

The average production of goods or services per person within a geographical area or country.

Developing Countries

Nations with a lower living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries.