Which of the following are assumptions classical economists make about Aggregate Supply (AS)?
a. Autonomous spending is key to increasing the RGDP from year to year
b. Wages and the price level are flexible
c. Aggregate demand is fixed.
d. Production at full employment levels in the long run is possible due to the flexibility of the price level and wage adjustability

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10-07-2024
Business

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Which of the following are assumptions classical economists make about Aggregate Supply (AS)?
a. Autonomous spending is key to increasing the RGDP from year to year
b. Wages and the price level are flexible
c. Aggregate demand is fixed.
d. Production at full employment levels in the long run is possible due to the flexibility of the price level and wage adjustability

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