Remaining Time: 24 minutes, 29 seconds. Question Completion Status: Classical economic theorists believe that: O fiscal policies are necessary to help the economy move towards its long run equilibrium. monetary policies are necessary to help the economy move towards its long run equilibrium O the macro economy requires constant monitoring guidance from the government or the federal reserve. O the economy will self-adjust to its long run equilibrium without government intervention. QUESTION 9 The short-run aggregate supply curve has a flatter portion and a steep portion. How does an increase in aggregate demand affect the price level differently across these two portions? O There is a small increase in the price level across the flatter portion and a sharp increase in the price level across the steep portion. O There is a sharp increase in the price level across the flatter portion and a small increase in the price level across the steep portion. There is a small decrease in the price level across the flatter portion and a sharp increase in the price level across the steep portion. O There is a sharp decrease in the price level across the flatter portion and a small decrease in the price level across the steep portion