The St. Louis Federal Reserve Bank econometric model indicates that crowding out
A) is only partial.
B) never occurs.
C) occurs only in highly unusual circumstances.
D) is complete.
D
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In general, as wages increase:
A. people are willing to work less. B. people are willing to work more. C. it does not affect people's willingness to work. D. the benefit of working goes down.
The antitrust legislation that made it illegal for a firm to buy a competitor's voting stock was the:
a. Sherman Antitrust Act. b. Celler-Kefauver Act. c. FTC Act. d. Robinson-Patman Act. e. Clayton Act.
Keynes used the term "animal spirits" to refer to
a. policy makers harming the economy in the pursuit of self interest. b. arbitrary changes in attitudes of household and firms. c. mean-spirited economists who believed in the classical dichotomy. d. firms' relentless efforts to maximize profits.
The approach to understanding the determination of real GDP and the price level that emphasizes flexible wages and prices and competitive markets is
A. the Keynesian model. B. Adam Smith's Law. C. Murphy's Law. D. the classical model.