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  3. 1. in the neo-classical model, the aggregate suppl

1. In the neo-classical model, the aggregate supply curve has three ranges depending on how far the...

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Question

Economics

1.

In the neo-classical model, the aggregate supply curve has threeranges depending on how far the economy is from fullemployment.

a. True

b. False

2.  

Suppose you are given the following fixed-price Keynesianmodel:

C = 480 + 0.9Yd

I = 200

G = 100

X = 200

M = 100 + 0.1Yd

T = 100.

What is the equilibrium level of GDP?

a.

1180

b.

5500

c.

4400

d.

4000

e.

3200

3.  

In the question above, at equilibrium the level of consumptionspending is $3990

a. True

b. False

4.

The aggregate demand curve can be derived by looking atdifferent levels of output along the production function.

True

False

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