Search
Create
Log in
Sign up
Log in
Sign up
Get ahead with a $300 test prep scholarship
| Enter to win by Tuesday 9/24
Learn more
AP Econ Schools of Thought
STUDY
Flashcards
Learn
Write
Spell
Test
PLAY
Match
Gravity
Terms in this set (3)
Classical
Key: Production
Prices are flexible
Supply creates demand
Q or GDP is constant
Markets reset/clear
Economy is self correcting
Keynesian
Key: Spending
Advocates of FP, MP
Sticky Prices/Wages
Economy doesn't self correct
Q or GDP not constant
Expenditure creates demand, production and growth
Monetarist
Key: PQ=MV (price level, Real GDP, money supply, velocity of $ or number of times the average $ is spent to buy final goods)
Economy is self correcting
Prices are flexible
Q or GDP only flexible in short run, otherwise constant
YOU MIGHT ALSO LIKE...
Series 7 Top-Off Exam Preparation | Knopman Marks Guide
KnopmanMarks
$44.99
STUDY GUIDE
Macroeconomics
44 Terms
rvakkala
Chapter 30: Aggregate Demand and Aggregate Supply (Jordan)
19 Terms
dmjordan77
CPA 2014 BEC Chapter 5
65 Terms
sheryl_john7
OTHER SETS BY THIS CREATOR
Calc AB Unit 6 Derivatives/Integrals
21 Terms
jahrend18
Derivatives/Integrals of Inverses/Logs/Exponentials
8 Terms
jahrend18
H Spanish IV Day Voalition, Impersonal
31 Terms
jahrend18
Honors Precalc Equations, Identities and Domain/Ranges
16 Terms
jahrend18
;