Which of the following schools of thought are policy interventionists favoring activist aggregate demand management to stabilize output and employment?
a. Keynesians
b. Monetarism
c. The new classical economics
d. The classical economics
e. None of the above
A
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Historical evidence shows that the relationship between interest rates and investment is
A) indeterminable. B) positive. C) negative. D) None of the above.
In the labor force, we include
A) hospitalized people. B) unemployed people. C) students, D) people on social security.
According to the crude quantity theory of money, if M were increased by 20%, what would happen to V, P, and Q?
What will be an ideal response?
The demand curve for a perfectly competitive firm is horizontal because
A) consumers are willing to pay any price to obtain its product. B) its production decisions cannot influence the market price. C) the firm profits from setting its price higher than the market price. D) its product is easy for consumers to differentiate from those of other firms.