"The economy can be in equilibrium, with aggregate supply equal to aggregate demand, at a level substantially below the full employment level of output." This statement best describes the views of
A. both the classical economists and the Keynesians.
B. neither the classical economists nor the Keynesians.
C. the classical economists.
D. the Keynesians.
D. the Keynesians.
You might also like to view...
In periods when prices are falling, on average,
A) real GDP will grow as fast as nominal GDP. B) real GDP will grow slower than nominal GDP. C) real GDP will grow faster than nominal GDP. D) one cannot calculate real GDP.
Compared to 1870, the average worker today in the United States, Britain, France, Germany, and Japan works more than
A. 1,000 more hours a year. B. 500 more hours a year. C. The same number of hours a year. D. 500 less hours a year. E. 1,000 less hours a year.
In 2007 British Airlines and Korean Air were charged with which antitrust violation?
A. Monopoly structure B. Price fixing C. Tying contracts D. Dividing up the market
(The following national income data are in billions of dollars.)
Refer to the above data. This nation's exports are:
A.
$9 billion
B.
$16 billion
C.
$24 billion
D.
$28 billion