Differentiate between Keynesian and Classical aggregate supply curve with the help of diagram.
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The Classical model shows the aggregate supply curve as vertical because this model holds that the economy is at its full employment level. ... The Keynesian model shows the aggregate supply curve is upward sloping because wages and prices are less flexible in the short-run.
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The Classical model shows the aggregate supply curve as vertical because this model holds that the economy is at its full employment level. ... The Keynesian model shows the aggregate supply curve is upward sloping because wages and prices are less flexible in the short-run.
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