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Traditional keynesian and the classical aggregate supply

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Reference no: EM132506392

Discuss the difference between the traditional Keynesian and the Classical Aggregate Supply curve.

(a) Is the Aggregate Supply curve vertical or horizontal? Why?

(b) What are the assumptions about the economy and price adjustments in each model?

(c) What happens to the price level in each model if Aggregate Demand shifts?

Reference no: EM132506392

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