The concept of the liquidity trap was formulated by
A. John Maynard Keynes.
B. Milton Friedman.
C. Stephen Pizzo.
D. Aristotle.
A. John Maynard Keynes.
Economics
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A general formula for the multiplier is
A) 1/(1-MPS) B) 1/(MPC) C) 1/(MPS) D) 1/(MPC-1)
Economics
________ emphasized that animal spirits affect GDP
A) Adam Smith B) Milton Friedman C) David Ricardo D) John Maynard Keynes
Economics
A monopsonist's marginal factor cost (MFC) curve lies above its supply curve because the firm must:
a. lower the factor price to hire more. b. increase the price of its product to sell more. c. increase the factor price to hire more. d. lower the product price to sell more.
Economics
The National Industrial Recovery Act essentially legalized
a. labor unions. b. business cartels. c. minimum wage laws. d. import tariffs.
Economics