Which of the following economic perspectives focuses on the need for government to shift aggregate supply to correct problems of unemployment and inflation?
A. Monetary.
B. Classical.
C. Keynesian.
D. Supply-side.
Answer: D
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What are the key differences between how we illustrate an expansionary fiscal policy in the basic aggregate demand and aggregate supply model and in the dynamic aggregate demand and aggregate supply model?
What will be an ideal response?
Gross domestic product is the money value of manufacturing production in a year
a. True b. False Indicate whether the statement is true or false
The assets that appear on the central bank's balance sheet include the category of loans. Who are central banks lending to and are these loans associated with the central bank functioning as the government's bank? Explain.
What will be an ideal response?
When one country can produce a good more efficiently than another country:
A. both can specialize in the industry in which they have comparative advantage and experience mutual gains. B. that country can specialize in that good and choose only to export goods. C. that country should produce that good and be the sole "winner" of trade. D. that country has no basis for trading with another nation.