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Exam 3 macro (Classical vs Keynesian Venn) Flashcards | StudBud
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Exam 3 macro (Classical vs Keynesian Venn)
Output equals income
Supply creates its own demand
Exam 3 macro (Classical vs Keynesian Venn)
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exam 3
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Questions
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Answers
1
Supply creates its own demand
Classical
Keynesian
Both
2
Output equals income
Keynesian
Both
Classical
3
Activist
Classical
Keynesian
Both
4
Flexible wages prices and interest rates
Both
Keynesian
Classical
5
Long run focused
Classical
Both
Keynesian
6
Supply focused
Both
Classical
Keynesian
7
Demand focused
Both
Classical
Keynesian
8
The economy will fix itself quickly
Keynesian
Both
Classical
9
Wages prices and interest rates are slow to change especially in the downward direction
Classical
Keynesian
Both
10
In the long run we’re all dead
Keynesian
Classical
Both
11
Short run focused
Keynesian
Classical
Both
12
Equation of exchange
Keynesian
Classical
Both
