Which question did John Maynard Keynes pose for the classical economists?
A. What if their policies led to inflation?
B. What if savings and investment were not equal?
C. What if government intervention did not cure a recession?
D. John Maynard Keynes posed none of these questions
B. What if savings and investment were not equal?
You might also like to view...
Shirking is most likely to occur when
A) the principal monitors the agents extensively. B) employees are paid an hourly wage. C) a piece rate contract is used. D) an assembly line is used for production.
When prices are used as a rationing device, goods that are relatively more scarce than they used to be will have
A) greater demand. B) lower excess demands. C) higher prices. D) long queues.
Television advertisements aired during major sporting events are very expensive. A theory asserting that people buy a product simply because it is advertised would suggest that information on the high cost of advertising
a. enhances the effectiveness of the advertisement. b. reduces people's willingness to purchase advertised products. c. is leaked to discredit the firms that spend so much on advertising. d. reduces the effective staying power of a product.
Taxing people according to their marginal valuations of a public good may be efficient, but it may not be fair if incomes differ
Indicate whether the statement is true or false