An economist from which of the following schools of thought would most likely say - "An increase in government expenditure will only increase inflation, because the aggregate supply curve is vertical"?
a. Neoclassical economics
b. Traditional classical economics
c. New Keynesian economics
d. Keynesian economics
e. Marxist economics
b
Economics
You might also like to view...
In an English auction, the ________ bidder wins
A) highest B) second-highest C) first D) second
Economics
A major function of incentive payments, guarantees, and signals is to enable markets to overcome the problem of
A) irrational forecasting. B) efficient forecasting. C) private information. D) public information.
Economics