According to Keynes, the primary cause of large-scale unemployment is
A. low prices.
B. high exports.
C. low exports.
D. inadequate aggregate demand.
D. inadequate aggregate demand.
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In the IS model, assuming that the real interest rate does not change, an increase in autonomous ________ leads to an increase in the equilibrium level of ________
A) investment; consumption B) consumption; investment C) net exports; investment D) all of the above E) none of the above
Aluminum cannot be produced without bauxite. Hence, the price elasticity of demand for bauxite by aluminum manufacturers will be
A) perfectly elastic. B) elastic. C) inelastic. D) unitary elastic.
If people have adaptive expectations, the Phillips curve model implies that whenever the actual rate of inflation is higher than the expected rate of inflation: a. unemployment will exceed its natural rate
b. unemployment will be less than its natural rate. c. unemployment will increase. d. unemployment will decrease.
Which of the following is a cause of the changing role of women in American society over the past several decades?
a. new technologies that have reduced the amount of time required to complete routine household tasks b. improved birth control c. changing political and social attitudes d. All of the above are correct.