A main debate between the Classical economists and Keynesian economists was related to: (2)
What will be an ideal response?
1) if the economy was self-adjusting
2) government intervention
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The labor demand curve is downward sloping because as the real wage ________ the amount of labor hired ________
A) falls; decreases B) falls; increases C) rises; remains constant D) rises; increases
Stock and Watson found that monetary policy was responsible for about ________% of the reduction in output volatility that occurred in the mid-1980s
A) 0 to 10 B) 10 to 20 C) 20 to 30 D) 30 to 40
Give three explanations for the law of demand:
Please provide the best answer for the statement.
Which of the following represents the money multiplier?
A. 1 ÷ (required reserve ratio). B. (Total reserves - required reserves) × multiplier. C. Total reserves - required reserves. D. Required reserve ratio × total deposits.