What does the classical economic model suggest about government intervention during a recession?
Classical and Keynesian Aggregate Supply- Macroeconomics

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Business
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11th Grade - University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The economy requires monetary policy changes.
The government should decrease taxes.
The economy will self-correct without intervention.
The government should increase spending.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Keynesian economics, why do prices and wages not adjust quickly during economic downturns?
They are flexible.
They are predetermined.
They are sticky.
They are irrelevant.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary reason Keynesian economics advocates for government intervention?
To reduce government debt.
To address sticky prices and wages.
To increase inflation.
To stabilize prices.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which range of the aggregate supply curve does the economy experience full employment?
Classical range
Intermediate range
Keynesian range
None of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to inflation when aggregate demand increases in the classical range?
Inflation decreases.
Inflation remains constant.
Inflation increases.
Inflation is unpredictable.
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