According to Keynesian theory, which of the following is not true e of all short-term macro equilibria?
A. The aggregate demand curve intersects the aggregate supply curve.
B. All macroeconomic goals are achieved.
C. The economy may or may not be at full employment.
D. Producers are selling everything they currently produce.
Answer: B
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Indicate whether the statement is true or false
One factor that contributed to the growth in the share of population employed in the United States between 1960 and 2000 was increased:
A. female labor force participation. B. labor union participation. C. male labor force participation. D. minimum wages.
Supply-siders argue that:
A. reductions in government spending cut infrastructure investment which hurts private sector investment. B. increases in government spending increase infrastructure investment which helps private sector investment. C. increases in government spending causes private sector investment to fall because the government pushes up interest rates. D. reductions in government spending cause private sector investment to fall because the government pushes up interest rates by borrowing.
GDP is a measure of:
A. domestic production. B. changes in the general level of prices. C. material well-being. D. social welfare.