In the arena of trade policy, the battle often seems to be between ________ laws that increase protectionism and ________ agreements that try to reduce protectionism.
a. national; national
b. international; international
c. national; international
d. international; national
c. national; international
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When the maximizing actions of two economic agents are not aligned, these agents face a(n):
A) coordination problem. B) incentive problem. C) correspondence problem. D) objective problem.
A criticism of the monetarist autonomous spending variable is that
A) some types of autonomous spending do not affect aggregate demand. B) some types of autonomous spending affect aggregate demand before the spending occurs. Some types of autonomous spending affect aggregate demand when they occur. C) some types of autonomous spending affect aggregate demand only long after they occur. D) Keynesians do not think that autonomous spending affects aggregate demand.
Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.80, an increase in federal government spending of $100 billion at below full employment would be expected to shift the aggregate demand curve by $500 billion to the right
a. True b. False Indicate whether the statement is true or false
Keynes believed that: a. discretionary fiscal policy was needed to stabilize the economy
b. wages are not flexible particularly in a downward direction. c. the economy could remain in a period of unemployment for a long time period. d. all of the above.