John Maynard Keynes disagreed with the classical economists because he believed that
A. wages and prices adjust slowly.
B. government intervention in the economy cannot reduce business cycles.
C. international trade plays a major role in the macroeconomy.
D. unemployment will be eliminated quickly by the invisible hand of the market.
Answer: A
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the U.S. dollar ________ against the Canadian dollar and the Euro ________ against the U.S. dollar
A) appreciated, depreciated B) appreciated, appreciated C) depreciated, appreciated D) depreciated, depreciated
In Figure 4-10 above, preferring the "easy fiscal, tight money" policy mix at a certain income is why we are at
A) point A rather than point C. B) point C rather than point A. C) point D rather than point B. D) point B rather than point D.
Ex-London School of Economics student Mick Jagger sang, "You can't always get what you want, but if you try sometime, you just might find you can get what you need." Another statement of the basic economic principle expressed in this lyric is that
a. rational decisions are not always possible. b. you can allocate your resources to what gives you the highest value. c. you can create the supply to meet your own demand. d. you can maximize social welfare by making optimal decisions.
When the interest rate is higher, the difference between the value of money today and tomorrow is smaller.
Answer the following statement true (T) or false (F)