Which One of the Following Statements Is TRUE

question 72

Multiple Choice

Which one of the following statements is TRUE?

• A) The classical model cannot explain periods of prolonged unemployment.
• B) The Keynesian model cannot explain periods of prolonged unemployment.
• C) The Keynesian model assumes complete flexibility of wages and prices.
• D) The Keynesian model shows that the level of real GDP is supply-determined.

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Definitions:

Double-Cycle Billing

A method some credit card companies used to calculate finance charges using the average daily balance of the current and previous billing cycles, often leading to higher charges for the cardholder.

Fair Credit Reporting Act

a federal law that regulates the collection, dissemination, and use of consumer credit information, ensuring accuracy, fairness, and privacy.

Metro Bank

A financial institution that provides banking services, which may include savings, loans, and investment products.

Credit History

A record of a borrower's responsible repayment of debts, used by lenders to gauge the borrower's creditworthiness.