Question

In the neoclassical view, changes in ____________________ can only have a short-run impact on output and on unemployment.

Answer 1

In the neoclassical view, changes in  aggregate demand can only have a short-run impact on output and on unemployment.

What is  aggregate demand?

Aggregate demand is the total number of goods produced in an economy with the fulfilling to fall the needs, of a requirement of the people. It consists of goods, services, and capital goods, in which money can be spent for the particular quantity.

Thus, it is aggregate demand.

For further details about aggregate demand, click here:

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