A given change in business investment will cause a larger change in equilibrium output.” This statement describes an important Keynesian concept called the
a. multiplier effect.
b. marginal propensity to consume.
c. marginal propensity to invest.
d. consumption function.
b. marginal propensity to consume.
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John Smith leaves his job in New York to go to California in hopes of finding a better one. If John Smith is unemployed while searching for a job in California, economists would consider him to be
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) naturally unemployed.
What was the average length of unemployment in April 2012 after the Great Recession but while the economy was still recovering?
a. 14 weeks b. 39 weeks c. 44 weeks d. 52 weeks
The old industrial unions are being supplanted by
A. Private sector unions. B. Unions of service workers. C. Union shops. D. Craft unions.
The first antitrust legislation was the:
A. Sherman Act. B. Clayton Act. C. Federal Trade Commission Act. D. Robinson-Patman Act.