Economist John Maynard Keynes wrote that the economy naturally gravitates toward smooth growth and high levels of employment
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Suppose a government is considering imposing either a tariff or a quota on imported grain, and either policy will result in exactly 750 tons of grain being imported. How do these policies differ?
A. The price of grain under the quota will be higher than the price under the tariff. B. The price of grain under the tariff will be higher than the price under the quota. C. Domestic production will be higher with the quota than with the tariff. D. The quota will generate revenue for the firms that hold import licenses, while the tariff will generate revenue for the government.
All else equal, an increase in net exports accompanied by a decrease in expected future profits would definitely result in
A) an increase in the equilibrium real interest rate. B) a decrease in the equilibrium real interest rate. C) an increase in the equilibrium level of saving and investment. D) a decrease in the equilibrium level of saving and investment.
The primary reason the federal budgeting process changed in 1921 was that _____
a. the level of government expenditures were increasing b. the President wanted more power c. federal agencies wanted less responsibility d. World War II forced the military to get involved
There was an extensive black market (illegal market) for many consumer products in the United States during World War II. A likely explanation of the black market is that:
A. the prices of goods were artificially held down by price controls. B. black markets were legal during the war. C. goods were not subject to price controls. D. gasoline rationing greatly restricted civilians from driving to stores.