Which of the following statements is correct?
a. In both the Keynesian and classical systems, aggregate demand is an important determinant of output and employment
b. In classical and monetarist models, money is the primary factor determining changes in aggregate demand.
c. Aggregate demand in the Keynesian model is determined entirely by the quantity of money, whereas in the classical model, money is one of several factors determining aggregate demand
d. None of the above
B
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What are the four types of bias that economist Bryan Caplan believes voters bring with them when they vote? Briefly explain each of these biases
What will be an ideal response?
As the wage rate increases, the substitution effect causes workers to supply more time to market work and the income effect causes them to supply less time to market work
a. True b. False
Foreign aid:
A. provided by developed countries to developing countries represents about 10 percent of the GDP of developed countries. B. is an important source of funding for investment in most developing countries. C. does not contribute much to domestic investment in most developing countries. D. is largely wasted in most developing countries because it comes with no strings attached.
Which of the following is correct?
a. The labor-force participation rate of women has increased in part due to smaller families. b. The labor-force participation rate of men has decreased in part due to men retiring younger and living longer. c. Both a and b are correct. d. Neither a nor b is correct.