In the Keynesian model, fluctuations in aggregate spending cause:
A. enhanced labor market mobility.
B. changes in potential output.
C. recessions and expansions.
D. changes in average labor productivity.
Answer: C
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For state residents, interest on most bonds issued by their state government is
A) exempt from state and federal income taxes. B) exempt from state, but not from federal, income taxes. C) exempt from federal, but not from state, income taxes. D) subject to both state and federal income taxes.
Refer to Figure 8.7. Which graph illustrates a firm that experiences economies of scale?
A. A
B. B
C. C
D. Both graphs A and C
Real money balances
A. refer to the amounts of nominal money that individuals hold. B. are computed by deflating nominal money assets by the average price level. C. refer to the amounts of American money that an individual holds relative to gold or foreign currencies. D. are measured by currency holdings rather than holdings in checking accounts.
From 1995 to 2013, total revenues to public institutions attributable to tuition increases
A. decreased. B. increased $230 billion. C. remained constant. D. increased $47 billion.