Classical model-an increase in the unemployment rate

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In the classical model, an increase in the unemployment rate:

A. will persist when the reduction in output is caused by a reduction in aggregate demand.

B. is a signal of demand-pull inflation.

C.will result in an increase in the price level if the reduction in output is caused by a change in aggregate demand.

D.will likely be temporary.

2. When a nation has high economic growth, it has

a high level of real Gross Domestic Product (GDP).

a high level of per capita real Gross Domestic Product (GDP).

a large increase in personal income.

a large increase in per capita real Gross Domestic Product (GDP).

Reference no: EM131393682

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