John Maynard Keynes developed the ideas underlying the aggregate expenditures model:
A. In the 1960s
B. In the 1980s
C. As a reinforcement of Say's Law
D. As a critique of classical economics
D. As a critique of classical economics
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Collective bargaining can:
A) makes it easier for workers outside a union to get jobs. B) increase profitability of firms. C) reduce wages. D) increase unemployment.
A surplus tends to put ________ pressure on the price of the product, which ________ the quantity supplied
A) upward; increases B) upward; decreases C) downward; increases D) downward; decreases
For almost 70 years international trade policies have been governed
A) by the World Trade Organization. B) by the International Monetary Fund. C) by the World. D) by an international treaty known as the General Agreement on Tariffs and Trade (GATT). E) by the North American Free Trade Agreement (NAFTA).
Microeconomics focuses on
A) the relationships among the different parts of the economy. B) the totals, or aggregates, of the economy. C) unemployment. D) business cycles.