In the Classical Model

question 86

Multiple Choice

In the classical model

• A) the level of real GDP per year does not depend on the level of aggregate demand.
• B) the level of GDP is demand determined.
• C) changes in aggregate supply affect the price level, not real GDP.
• D) the level of GDP determines prices independent of demand.

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Definitions:

Death Rate

The ratio of deaths in an area to the population of that area; often expressed per 1000 individuals per year.

College Graduates

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