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When comparing the competing views of macroeconomic theory, how does the mainstream view differ from all other views (monetarist, real business cycle, and self-correction)? Proponents
When comparing the competing views of macroeconomic theory, how does the mainstream view differ from all other views (monetarist, real business cycle, and self-correction)? Proponents of the mainstream view believe multiple choice national output is determined by aggregate supply rather than aggregate demand. there is dominance of the long-run aggregate supply curve over the short-run aggregate demand curve. the price level is fixed in both the short run and the long run. national output is mostly determined by aggregate demand
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