Keynesian economics endorsed the idea of
(a) increased government spending as a counterforce against slumps or recessions.
(b) reduced taxation as a counterforce against rising prices.
(c) increased government spending as a counterforce against inflation.
(d) decreased government spending as a counterforce against slumps or recessions.
(a)
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If government spending is $650 billion while government revenue is $950 billion, the government is said to have a
A) $300 billion budget surplus. B) $300 billion budget deficit. C) $1,600 billion budget balance. D) $950 billion budget deficit.
Which type of unemployment is most likely to lead unemployed workers to retrain or relocate?
A) cyclical B) forced C) structural D) frictional E) search
Which of the following would cause the dollar to depreciate?
A) an increase in the demand for dollars B) a decrease in the demand for imports from foreign countries C) a decrease in the supply of dollars D) a decrease in the demand for dollars
An oligopoly firm cannot know the demand curve it faces unless it knows what its rivals will do in reaction to changes it initiates
a. True b. False Indicate whether the statement is true or false