In the simple Keynesian model of the determination of income, the price level is assumed to be Group of answer choices exogenous and to gradually change. endogenous and to gradually change. exogenous and to remain constant. endogenous and to remain constant.
Added by William C.
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Step 1: In the simple Keynesian model, the price level is assumed to be exogenous, meaning it is determined outside of the model and is not influenced by changes in income or output. Show more…
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