Both the New Classical and New Keynesian Models Had in Common

question 57

Multiple Choice

Both the new classical and new Keynesian models had in common the belief that

• A)in the medium run, output returns to its natural level.
• B)output is always at its natural level.
• C)in the short run, output would likely deviate from its natural level.
• D)none of the above

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Definitions:

Liberal

A political and social philosophy that promotes individual freedoms, democracy, and the importance of human rights.

Male Students

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Importance Gap

The perceived difference between the importance of something and the current state or performance of that thing.

Modern Technology

The current state of technological development that encompasses a wide range of digital, electronic, and mechanical inventions.