What are the long-run implications on price level and GDP?

Keynesian vs. New Keynesian

Both the traditional Keynesian theory and the new Keynesian theory indicate that the short-run aggregate supply curve is horizontal.

Tasks:

Answer the following questions:

Is there any difference between the two approaches of the Keynesian theory and the new Keynesian theory in terms of short-run implications?
What are the long-run implications on price level and GDP?

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