According to Walton and Rockoff, Keynesian economists would probably argue that Keynesian policies failed to alleviate the Great Depression because _____
a. monetary policy was contractionary
b. government spending was disproportionately concentrated on poor relief
c. supply-side shocks offset Keynesian policies
d. Keynesian policies were never tried on a sufficient scale
d. Keynesian policies were never tried on a sufficient scale
You might also like to view...
List and describe the four components of GDP
What will be an ideal response?
Assume a firm is currently producing 100 units of output, total fixed costs are $10,000, and average variable costs are $8. Based on this information we can conclude, with certainty, that the firm's:
A) marginal costs are $8. B) total variable costs are $8000. C) average fixed costs are $2. D) total costs are $10,800.
What is the effect on velocity if payments are made more often?
a. It will decrease. b. It will increase. c. It will remain constant. d. Velocity is unrelated to payments.
If banks demand currency (e.g., Federal Reserve Notes) from the central bank, the effect is to:
a. Increase the nation's monetary base. b. Decrease the nation's monetary base. c. Leave the monetary base unchanged. d. Increase the liabilities of the central bank. e. None of the above is true.