Which statement best defines the classical perspective?
a. Aggregate supply determines aggregate demand.
b. Aggregate demand does not matter for anything.
c. Aggregate supply determines real variables such as output.
d. Aggregate demand determines all endogenous variables.
C
Economics
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As the number of firms in an oligopoly ____, the oligopoly becomes more ____
a. increase; competitive b. increase; uncompetitive c. decrease; competitive d. decrease; like monopolistic competition
Economics
Along a society's production possibilities frontier,
a. the level of technology is changing b. more of one good can be produced without giving up some of the other good c. resources are not being fully utilized d. available resources are being used efficiently e. there is productive inefficiency in the economy
Economics