"The economy can be in equilibrium,with aggregate supply equal to aggregate demand,at a level substantially below the full employment level of output." This statement best describes the views of

A) both the classical economists and the Keynesians.
B) neither the classical economists nor the Keynesians.
C) the classical economists.
D) the Keynesians.

Equilibrium

An equilibrium state in the market where supply meets demand, stabilizing prices as a consequence.

Aggregate Supply

Aggregate supply constitutes the total supply of goods and services produced within an economy at a given overall price level in a specified time period.

Aggregate Demand

Refers to the total demand for goods and services within an economy at a given overall price level and in a given time period.