In The General Theory of Employment, Interest, and Money, Keynes
A. recommended international trade to increase economic stability after recessions.
B. encouraged government actions to shorten the recovery time of recessions..
C. supported free markets.
D. observed budget surpluses were necessary fixes following budget deficits.
Answer: B
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Probably the most important source of efficiency in production is
A. investing in more capital goods. B. consuming rationally. C. expanding the production possibilities frontier. D. increasing inputs of energy and raw materials. E. the specialization of labor.
Backward induction involves:
A. a process of analyzing a problem in reverse. B. thinking forward and working backward. C. starting with the last choice and working backward to determine an optimal strategy. D. All of these statements are true.
The relationship between quantity supplied and price is __________ and the relationship between quantity demanded and price is ____________.
A. direct; direct B. inverse; inverse C. inverse; direct D. direct; inverse
When the price level rises, the number of dollars needed to buy a representative basket of goods
a. increases, and so the value of money rises. b. increases, and so the value of money falls. c. decreases, and so the value of money rises. d. decreases, and so the value of money falls