1. keynesian economists believe that a) the long run is more important than the

Question

1. keynesian economists believe that

a) the long run is more important than the short run

b) prices are flexible

c)savings is crucial to growth

d) more focus shpuld be placed on aggregate demand than aggregate supply

d) the market tends toward stability and full employment

2. classical economists stress the importance of aggregate ______ and generally believe that the economy _____ to reach full employment equilibrium on its own.

a)supply and demand, needs help

b)demand, needs help

c) supply, needs help

d)demand, does not need help

e)supply, does mpt need help

3. what is the consumer price index?

a) the cpi is measure of consumer prices in both rural and urban areas. it is calculated by adding up all prices.

b)the cpi is a measure of the price level based on the consumption patterns of a typical consumer

c) the cpi is a measure of all prices in the economy

d) the cpi is a measure of food prices because food is what is consumed

e) the cpi is a measure of food ,clothng and housing prices

Explanation / Answer

Ans:

1) Option D

more focus should be placed on aggregate demand than aggregate supply

keynesian economists stress the importance of aggregate demand than aggregate supply.keynesian economists believe that more focus should be placed on aggregate demand.

2) Option E

supply, does not need help

classical economists stress the importance of aggregate supply and generally believe that the economy can adjust back to full employment equilibrium on its own.

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