Question

.... The economic theory that states a positive relationship between national income and the price level...

....

The economic theory that states a positive relationship between national income and the price level is commonly known as

Group of answer choices

Macroeconomic equilibrium

Macroeconomic equilibrium

Job creation

The Phillips Curve

Okun's Law

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Homework Answers

Answer #1

Okun's law tells about unemployment change in relation with GDP change.

Philips curve describes the relationship between unemployment and price level .

Job creation is also related with employement.

Therefore (Okun Law, Philips Curve, Job Creation) are wrong

Macroeconomic Equilibrium tells about the relationship between real GDP and price level where you can count real GDP as national income where real GDP is an x axis and price level is on axis

Therefore (Macroeconomic Equilibrium) is the answer to this question

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