Keyes argued that a ____________ in consumer spending would tend to depress the economy.
Fill in the blank(s) with the appropriate word(s).
deficiency
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If a country produces only two goods, then it is not possible to have an absolute advantage in the production of both goods
Indicate whether the statement is true or false
Competition is
A) important in both the market and government sectors. B) important in the market sector, but not in the government sector. C) important in the government sector, but not in the market sector. D) not very important in either the government or the market sector.
If the economy is on the steep part of the AS curve, the multiplier will be
A. infinite, as compared to zero if the economy is on the flat portion of the AS curve. B. constant regardless of where the economy is on the AS curve. C. larger than it would be if the economy were on the flat portion of the AS curve. D. smaller than it would be if the economy were on the flat portion of the AS curve.
If the dollar appreciates relative to foreign currencies, then:
A. U.S. goods will look cheaper to foreign buyers B. Foreign goods will look more expensive to U.S. buyers C. Net exports of the U.S. will increase D. Foreign buyers will find U.S. goods become more expensive