Within the Keynesian model, when total spending is less than the full-employment level of output, firms will
a. continue to produce the current level of output.
b. cut production to reduce their inventory accumulation.
c. expand production to reduce their inventory accumulation.
d. cut production to build inventories.
B
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Consider a two-input production function, one of which is increasing while the other is fixed. At the point of diminishing returns, output will
A) increase at an increasing rate. B) decrease at a decreasing rate. C) decrease at an increasing rate. D) increase at a decreasing rate.
The Middle Colonies' exports went primarily to
a. the United Kingdom. b. continental Europe. c. the West Indies. d. Africa.
The Federal Trade Commission
a. prevents mergers that substantially lessen competition. b. rules on the antitrust activities of labor unions. c. issues patents. d. polices deceptive advertising.
What is money? What are the three definitions of money in the United States?