Both traditional and new keynesian theory indicate that the, Ask an Expert

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Both traditional and new Keynesian theory indicate that the short run aggregate supply is horizontal.

a) in terms of their short run implications for the price level & real GDP, is there any difference between the two approaches?

Same short run implications
Different short run implications

b) In the terms of their lon run nimplications for the price level and real GDP, is there any differences between the two appraoches?

Same short run implications
Different short run implications

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M937515

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