The work of John Maynard Keynes led to a major revolution in economic thought
Indicate whether the statement is true or false
True
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What is the relationship between the natural unemployment rate, the unemployment rate, potential GDP, and actual GDP?
What will be an ideal response?
An increase in interest rates might ________ saving because more can be earned in interest income
A) encourage B) discourage C) disallow D) invalidate
Suppose product price is $24; MR = MC at Q = 200; AFC = $6; AVC = $16 . What do you advise this competitive price-taker firm to do?
a. Increase output. b. Decrease output. c. Shut down operations. d. Stay at the current output; the firm is earning a profit of $400. e. Stay at the current output even though the firm is losing $200.
Which of the following generally occurs when a central bank pursues contractionary monetary policy?
A) the central bank purchases bonds and the interest rate increases. B) the central bank purchases bonds and the interest rate decreases. C) the central bank sells bonds and the interest rate increases. D) the central bank sells bonds and the interest rate decreases.