In this chapter you learned about one of the major debates in macroeconomics between classical and...

Question

Question

In this chapter you learned about one of the major debates in macroeconomics between classical and Keynesian economists-wheth

business economics

Answer 1

Answer #1

(A) Classical economists:

- Supply is the key side of the market

- Long run is the key time period

- Savings is crucial to economic growth

(B) Keynesian economists:

- Cyclical unemployment is the norm

- Prices are sticky

Answer 2

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