John Maynard Keynes thought that when interest rates fell to very low levels, people would
A. keep their money in the bank.
B. lend out their money.
C. buy bonds.
D. hold their money.
D. hold their money.
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If marginal cost is less than average cost, average cost must fall when more units are produced.
Answer the following statement true (T) or false (F)
If new firms enter a cartel market, the probability that the cartel will survive ________ if the cartel ________.
A) increases; includes or excludes the new firms from the agreement B) increases; excludes the new firms from the agreement, but not if the cartel includes the new firms C) decreases; excludes the new firms from the agreement, but not if the cartel includes the new firms D) decreases; includes or excludes the new firms from the agreement
The difference between M1 and M2 is given by which of the following?
a. M1 is limited to checkable deposits, whereas M2 contains currency. b. M1 is made up of currency and checkable deposits, whereas M2 contains M1 plus savings deposits and small time deposits. c. M1 includes only currency, whereas M2 contains M1 plus checkable deposits. d. M1 includes currency, coins, gold and silver, whereas M2 does not contain gold and silver.
An example of a positive statement is:
A) The rate of unemployment should be 4 percent. B) A high rate of economic growth is good for the country. C) an increase in investment spending tends to reduce unemployment. D) Everyone in the country needs to be covered by national health insurance.