Economics · Macroeconomics
Which of the following is NOT true about Classical and Keynesian aggregate demand (AD) and aggregate supply (AS) schedules?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The Classical AS schedule is vertical.
- 2The Keynesian AS schedule slopes upward to the right in the short run.
- 3The Classical AD schedule depends fundamentally on the level of money supply.
- 4The Keynesian AD schedule depends only on the existing capital stock.✓
Correct answer
The Keynesian AD schedule depends only on the existing capital stock.
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