The multiplier-accelerator model was developed by
A) Paul Samuelson. B) classical economists.
C) Walter Heller. D) John Maynard Keynes.
A
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One of the reasons that price elasticities of demand are always stated as positive numbers is because:
a. the numerators and denominators of the formula are both negative. b. the numerators and denominators of the formula are both positive. c. price increases always lead to increases in quantity demanded. d. price decreases always lead to decreases in quantity demanded. e. price elasticities are always negative, so we ignore the sign.
The entry of new firms into a monopolistically competitive industry will cause the long-run equilibrium price to rise
a. True b. False Indicate whether the statement is true or false
A World View article, "Glaring Inequalities," says that income inequality tends to diminish as a nation develops. The distribution of income answers the ________ question.
A. WHY B. WHERE C. HOW MUCH D. FOR WHOM
What is the difference between a necessity and a luxury?
What will be an ideal response?