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24. Macroeconomic Schools of Thought
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24. Macroeconomic Schools of Thought
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24. Macroeconomic Schools of Thought / Classical Model and Keynesian Model / Problem 2
Problem 2
How do equilibrium adjustments differ between the classical and Keynesian models in the aggregate demand and supply framework?
A
Neither model adjusts from short-run to long-run equilibrium.
B
Both models have immediate adjustments.
C
In the classical model, adjustments are immediate; in the Keynesian model, they are delayed.
D
In the Keynesian model, adjustments are immediate; in the classical model, they are delayed.
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