According to the Keynesian theory, inflation
a. can occur at any level of employment.
b. can occur only with government spending.
c. can occur when aggregate expenditure exceeds output at full employment.
d. will occur when planned investment is below planned saving at full employment.
c. can occur when aggregate expenditure exceeds output at full employment.
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If you worked 35 hours a week at a minimum wage job you could ________ a family of four above the poverty line.
A. easily keep B. barely keep C. not come close to keeping
__________ is the number of units that individuals are __________ to buy at a particular price during some time period
A) Demand; willing and able B) Supply; willing and able C) Quantity demanded; willing and able D) Demand; able E) Quantity demanded; willing
The more inelastic the demand for a product, the larger the share of the tax that will be paid by consumers.
Answer the following statement true (T) or false (F)
Consider an initial IS-LM equilibrium with normally-sloped curves. An increase in government spending takes us to a new equilibrium with ________ income and ________ interest rate
A) higher, a higher B) higher, a lower C) an unchanged, a higher D) an unchanged, a lower E) lower, an unchanged