Which of the following is true?
A. Keynes asked the question: If supply creates its own demand, why are we in a worldwide depression?
B. According to Keynes, if savings were greater than investment, interest rates would fall, bringing the economy back to full employment.
C. Keynes believed that wages and prices were flexible.
D. Keynes believed the economy was basically stable.
A. Keynes asked the question: If supply creates its own demand, why are we in a worldwide depression?
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In the figure above, a single-price unregulated monopoly will produce an amount of output equal to
A) h. B) j. C) k. D) none of the above.
A profit-maximizing monopolist, if producing at all, chooses a level of output where: a. total revenue is maximized
b. total cost is minimized. c. average total cost is minimized. d. marginal revenue equals marginal cost.
Which one of the following accurately describes the trends in U.S. labor force participation over the past 50 years?
A. The labor force participation rates for both men and women have declined. B. The labor force participation rate of men has climbed from about 75 percent to 90 percent. C. The overall labor force participation rate has held steady at about 85 percent. D. The labor force participation rate of women has climbed from below 40 percent to about 60 percent.
Which of the following is not a reason why government officials are willing to impose entry barriers?
A) to raise revenue B) to encourage innovation which may improve the standard of living in the long run C) to increase economic efficiency D) to promote an equitable distribution of income