One of the main conclusions of Keynes in The General Theory of Employment, Interest, and Money is that the economy
a. will usually be at full employment.
b. will not automatically gravitate to full employment.
c. will automatically move quickly toward full employment without inflation.
d. is usually on the verge of a major depression or hyperinflation.
b
You might also like to view...
Unlike either the United States or the United Kingdom, ________ did not occur in China's economy between 2007 and 2009
A) a massive monetary and fiscal stimulus B) a negative demand shock C) a negative rate of inflation (i.e., deflation) D) a sharp increase in financial frictions E) a positive supply shock
A perfect-price-discriminating monopoly's marginal revenue curve
A) lies below the demand curve. B) is the demand curve. C) varies for each consumer. D) is the same as the monopolist's marginal revenue curve.
Which nation's taxation is the highest percentage of the nations' GDP?
a. Australia b. United States c. Germany d. Netherlands e. Sweden
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.
1) The effect of government regulation on a monopolist's production decisions.
2) The government's decision on how much to spend on public projects.
3) The effects of the Internet on the pricing of used cars.