The Keynesian macroeconomic model states that
A) changes in technology generate business cycles.
B) the economy is inherently unstable and government intervention is required to maintain continued economic growth.
C) fluctuations in the quantity of money are responsible for most economic recessions.
D) markets work efficiently to produce the best macroeconomic outcomes.
E) the economy is fairly stable.
B
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In a market in which firms operate in monopolistic competition,
A) the HHI for a single firm exceeds 2500. B) firms compete on price, quality and marketing. C) in the long run firms produce at their efficient scale. D) in the long run firms are not able to charge a marku
Refer to Table 18-1. Suppose a series of votes are taken in which each pair of alternatives is considered in turn. If the vote is between allocating funds to research on Alzheimer's and increased border security
A) Jasmine and Rose vote for Alzheimer's research, Ivy votes for increased border security, and Alzheimer's research wins. B) Ivy and Jasmine vote for Alzheimer's research, Rose votes for increased border security, and Alzheimer's research wins. C) Jasmine and Ivy vote for increased border security, Rose votes for Alzheimer's research, and increased border security wins. D) Ivy and Rose vote for increased border security, Jasmine votes for Alzheimer's research, and increased border security wins.
The combined effect of changes in government purchases and net taxes can be determined by adding their individual effects
a. True b. False Indicate whether the statement is true or false
An economy with nominal tax rates significantly higher than effective tax rates has
A. A regressive tax system. B. Loopholes in the tax code. C. A progressive tax system. D. Large in-kind benefits.