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5 May, 00:22

Any change in Aggregate Demand will have what effect in the Long-Run Classical Macroeconomic Equilibrium Model?

A. Only change the Real Output

B. Only change the Aggregate Price Level

C. Change both the Aggregate Price Level and the Real Output

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  1. 5 May, 00:34
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    Answer: Only change the Aggregate Price Level

    Explanation: In the Classical model, the Long-run level of output remains unchanged at the full employment level. So, any change in the Aggregate demand or Aggregate supply without any change in the long-run supply will only lead to a change in the aggregate price level in the economy.
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Home » Business » Any change in Aggregate Demand will have what effect in the Long-Run Classical Macroeconomic Equilibrium Model? A. Only change the Real Output B. Only change the Aggregate Price Level C. Change both the Aggregate Price Level and the Real Output
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