A major drawback of the Keynesian approach to macroeconomic equilibrium is the assumption that the supply of goods and services in the economy always adjusts to aggregate expenditures
a. True
b. False
Indicate whether the statement is true or false
True
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Money performs all of the following functions EXCEPT serving as a
i. medium of exchange. ii. unit of account. iii. barter mechanism. A) iii only B) ii only C) i only D) ii and iii E) i and ii
In 2007 ROA for banks in the United States stood at a little under __________ percent
A) one B) five C) eight D) twenty
Suppose a ten firm industry has total sales of $35 million per year. The largest firm have sales of $10 million, the third largest firm has sales of $4 million, and the fourth largest firm has sales of $2 million
If fifth through tenth largest firms combined have annual sales of $12 million, the four-firm concentration ratio for this industry is A) 45.7 percent. B) 80 percent. C) 65.7 percent. D) none of the above.
Labor (# of employees)Total Output0011025031104160520062307255827592901030011305Assume the table shown is for a hat factory, and shows the total production of hats given various numbers of employees. What is the marginal product of the fifth worker?
A. 40 B. 30 C. 50 D. 200