2011年宏观经济学答案.docxVIP

MACRO Answers to text questions and problems for Chapter 11Answers to Review QuestionsThe key assumption of the basic Keynesian model is that in the short run, firms meet demand at pre-set prices. The fact that firms produce to meet demand implies that changes in demand (and therefore aggregate spending) dictates the output level in the short run.(LO1AACSB: AnalyticBloom’s: RememberThere are many possible examples. Goods that are standardized and are bought and sold in large quantities, such as wheat or other commodities, tend to have rapidly adjusting prices since the benefits of setting up