Tax cuts shift aggregate demand
a. right as do increases in government spending.
b. right while increases in government spending shift aggregate demand left.
c. left as do increases in government spending.
d. left while increases in government spending shift aggregate demand right.
a
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The East Asian model's approach to interest rates has been
a. to keep interest rates well below market levels b. to keep interest rates above market levels c. to allow the market to determine interest rates d. to allocate investment funds entirely through government, and not charge any interest e. none of the above
Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?
a. someone working without pay for a family member's business b. someone who is absent from their job due to illness c. someone on temporary layoff d. All of the above are correct.
John Maynard Keynes believed that
A. the market forces would soon cure the Great Depression. B. the federal government should balance its budget every year. C. we could spend our way out of the Great Depression. D. we should scrap the capitalist system and have the government take over the ownership of the means of production.
A firm should shut down in the short run if it s revenue is smaller than its variable costs.
Answer the following statement true (T) or false (F)