Which statement(s) is/are correct according to Keynesian employment theory?
I. The total income of a country depends on its total employment.
II. The total employment depends on aggregate effective demand.
III. Long-term aggregate demand always equals to long-term aggregate supply.
IV. The use of money is taken as medium of exchange.
1
I and II only
2
II and III only
3
III and IV only
4
II only