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According to classical​ economists, aggregate demand primarily determinesA.total production in the economy.B.the price level.C.aggregate supply at full employment.D.levels of national output and income.

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Which of the following events shifts aggregate demand rightward?1)a decrease in the price level, but not an increase in government expenditures2)an increase in government expenditures, but not a change in the price level3)an increase in government expenditures or a decrease in the price level4)a decrease in government expenditures or an increase in the price level

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In a column on​ bloomberg.com, Noah Smith notes that people who work at a computer have many ways to slack off or waste time—posting to​ Facebook, Twitter, or​ Instagram; watching YouTube​ videos; or playing video games—that ​weren't available to workers in previous decades. He calculates​ that:​"The average working American spends about 34.4 hours on the job. If we assume​ that's five days a​ week, it means that one hour of slacking per day means that true work hours are really only 85.5 percent of the official​ number."​Source: Noah​ Smith, "Goofing Off at Work Masks Rising​ Productivity," bloomberg.com, May​ 10, 2017.If​ Smith's estimates are​ correct, is the rate of growth of labor productivity as measured by government statistics overstated or​ understated? Briefly explain.A.​Overstated, because regardless of the amount of output produced per​ hour, workers are not producing efficiently.B.​Understated, assuming that workers are producing the output in fewer hours than the official work hours.C.​Understated, because the amount of physical capital is not increasing at a fast enough pace to keep workers busy.D.​Overstated, because workers could be using that hour of slacking each day to engage in some other activity.

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