Question

conclusion of classical theory​

Answer 1

Answer:

Conclusion: According to the classical dichotomy, the monetary sector of the economy determines the general price level whereas the demand for and supply of goods and services determine relative prices. Hence, the price level has no effect on demand for and supply of individual goods and services.

Answer 2

According to the classical dichotomy, the monetary sector of the economy determines the general price level whereas the demand for and supply of goods and services determine relative prices. Hence, the price level has no effect on demand for and supply of individual goods and services.