Keynes felt that the economic effects of business confidence, for example a loss confidence shifting the ________ curve to the left, were of ________ importance
A) IS, major
B) IS, minor
C) LM, major
D) LM, minor
A
You might also like to view...
The rate of interest that a bank states as its interest rate is the real rate of interest
Indicate whether the statement is true or false
In the long-run average cost function, only the amount of capital is allowed to vary
Indicate whether the statement is true or false
The marginal product of any factor of production depends on
a. the quantity of the factor used. b. the price of the final good. c. the demand for the final good. d. All of the above are correct.
Assume that the labor market is perfectly competitive. An increase in the productivity of labor
A) causes the marginal factor cost of labor to decrease. B) generates a lower wage rate. C) causes an increase in the demand for labor. D) causes a reduction in the demand for labor since each worker is now more productive.