33) Which of the following is NOT true according to classical macroeconomics theory? Given output and the interest rate, the price level adjusts to balance the supply of, and demand for, money. Output is determined by the supplies of capital and labor and the available production technology. For any given level of output, the interest rate adjusts to balance the supply of, and demand for, money. For any given level of output, the interest rate adjusts to balance the supply of, and demand for, loanable funds.

33) Which of the following is NOT true according to classical macroeconomics theory? Given output and the interest rate, the price level adjusts to balance the supply of, and demand for, money. Output is determined by the supplies of capital and labor and the available production technology. For any given level of output, the interest rate adjusts to balance the supply of, and demand for, money. For any given level of output, the interest rate adjusts to balance the supply of, and demand for, loanable funds.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter24: The Aggregate Demand/aggregate Supply Model

Section: Chapter Questions

Problem 42CTQ: On a microeconomic demand curve, a decrease in price causes an increase in quantity demanded because...

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