Q1)A

The slope of the AS curve reflects O short-run versus long-run, wage flexibility, Classical versus Keynesian O the real balance effect, the interest rate effect and the wealth effect O the stance of fiscal, monetary and exchange rate policies O the goods, money and foreign exchange markets equilibriumIn our four main macroeconomic models, which of the following statements is false? O The goods and services market is represented in all four models O Output is an exogenous variable O Our macro models are all short-run models O Output is a variable to be determined