If the traditional Keynesian views turn out to be accurate, an increase in government spending would:
a. increase the price level.
b. decrease the level of investment.
c. increase the equilibrium level of real GDP.
d. decrease the level of consumption.
e. decrease the money supply.
c
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Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. If Kyle adopts a pure strategy of "shoot 2," Stan shoul
A) also adopt a pure strategy of "shoot 2." B) adopt a pure strategy of "shoot 1." C) adopt a mixed strategy of "shoot 1" 50% of the time and "shoot 2" 50% of the time. D) adopt a mixed strategy of "shoot 1" more than 50% of the time and "shoot 2" less than 50% of the time.
Refer to Figure 18-1. Area B + C + F + G represents
A) the portion of sales tax revenue borne by consumers. B) the portion of sales tax revenue borne by producers. C) the excess burden of the sales tax. D) sales tax revenue collected by the government.
Who has a greater opportunity cost of leisure — a president of a major corporation or a babysitter?
In theory, the law of one price makes a lot of sense. So why do we see it fail so often?
What will be an ideal response?