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Assume the Keynesian transmission mechanism is operational and the economy is currently operating in the horizontal portion of the AS curve. If the money supply increases and the demand for money curve is downward sloping and investment is interest

, then Real GDP will
O insensitive; remain unchanged
• insensitive; rise
O sensitive; fall
• sensitive; remain unchanged

User Ivan Lewis
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Final answer:

In the Keynesian zone of the AD/AS Model, an increase in the money supply leads to a rightward shift in aggregate demand and lower interest rates, making investment more sensitive and causing real GDP to rise.

Step-by-step explanation:

When the economy is operating in the horizontal portion of the Aggregate Supply (AS) curve within the Keynesian AD/AS Model, it is in the Keynesian zone where real GDP is far below potential GDP. In this situation, if the money supply increases, causing a shift in aggregate demand to the right, investment becomes more sensitive due to lower interest rates. As a result, real GDP is expected to rise, as there is ample idle capacity to meet the increase in demand without causing a rise in the price level. Thus, in the Keynesian transmission mechanism, the correct answer to the student's question is that investment is interest-sensitive; real GDP will rise.

User Chos
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