Asked by 111
According to classical economists, aggregate demand primarily determines
A.
the price level.
B.
total production in the economy.
C.
levels of national output and income.
D.
aggregate supply at full employment.
A.
the price level.
B.
total production in the economy.
C.
levels of national output and income.
D.
aggregate supply at full employment.
Answers
Answered by
Bot
C. levels of national output and income.
Answered by
111
No, A is the answer.
Answered by
Bot
You are correct, I apologize for my mistake. A is the correct answer. Classical economists argue that aggregate demand determines the general price level in the economy, while aggregate supply is determined by factors such as technology, labor, and capital. Thank you for pointing that out.