Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 9, Problem 5QP
To determine
Explain classical economists’ view of increase in saving.
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How do Classical and Keynesian economists differ in their view of the aggregate supply curve?
How would a dramatic increase in the value of the stock market shift the AD curve? What effect would the shift have on the equilibrium level of GDP and the price level?
The Keynesian view of the AD/AS model states that when beginning from potential output equilibrium, any increase in AD will :
Chapter 9 Solutions
Macroeconomics
Ch. 9.1 - Prob. 1STCh. 9.1 - Prob. 2STCh. 9.1 - Prob. 3STCh. 9.2 - Prob. 1STCh. 9.2 - Prob. 2STCh. 9.2 - Prob. 3STCh. 9.3 - Prob. 1STCh. 9.3 - Prob. 2STCh. 9.3 - Prob. 3STCh. 9 - Prob. 1QP
Ch. 9 - Prob. 2QPCh. 9 - Prob. 3QPCh. 9 - Prob. 4QPCh. 9 - Prob. 5QPCh. 9 - Prob. 6QPCh. 9 - Prob. 7QPCh. 9 - Prob. 8QPCh. 9 - Prob. 9QPCh. 9 - Prob. 10QPCh. 9 - Prob. 11QPCh. 9 - Prob. 12QPCh. 9 - Prob. 13QPCh. 9 - Prob. 14QPCh. 9 - Prob. 15QPCh. 9 - Prob. 16QPCh. 9 - Prob. 17QPCh. 9 - Prob. 18QPCh. 9 - Prob. 1WNGCh. 9 - Prob. 2WNGCh. 9 - Prob. 3WNGCh. 9 - Prob. 4WNGCh. 9 - Prob. 5WNGCh. 9 - Prob. 6WNGCh. 9 - Prob. 7WNG
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- The Keynesian view of the AD/AS model states that when beginning from potential output equilibrium, any decrease in AD will : Group of answer choices a Decrease real output and decrease prices b Decrease real output and increase prices c Decrease real output and do not affect prices d Increase real output and decrease pricesarrow_forward“Keynesian economists believe that the multiplier effect from a change in government expenditure on output can be high under slow price adjustments, but classical economists think that the multiplier effect is small or even zero under fast price adjustments.” Explain why it is true using the AD-AS framework.arrow_forwardIf private sector businesses suddenly lose confidence in the economy, Keynes argued that this would likely lead to a _________ shift in the investment schedule and thus a __________ shift in the AD schedule. (Choose the appropriate answer.)arrow_forward
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