The Keynesian perspective focuses on the demand-side of the economy;
What will be an ideal response?
fiscal policy attempts to affect AD
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For a given upward-sloping supply curve, an increase in demand for chocolate chips will result in a:
a. ?lower equilibrium price and a higher equilibrium quantity. b. ?higher equilibrium price and a lower equilibrium quantity. c. ?lower equilibrium price and a lower equilibrium quantity. d. ?higher equilibrium price and a higher equilibrium quantity. e. ?decrease in the quantity supplied of chocolate chips.
Which aspect of undeveloped labor markets causes unemployment in undeveloped labor markets to be misunderstood?
a. higher inflation rates b. greater government control c. barter and trade economies d. agricultural economies
The government's policy of reducing payments for physicians' services has generated a relative
A. reduction in the number of physicians in the program. B. increase in the income of the physicians remaining in the program. C. reduction in the demand for medical services. D. increase in the number of physicians in the program.
The consumption of a common resource by one person does not affect the availability of that resource to others.
Answer the following statement true (T) or false (F)