The concept that producing goods and services generates the means and the willingness to purchase other goods and services is
A. secular deflation.
B. Say's law.
C. the Keynesian approach.
D. money illusion.
Answer: B
You might also like to view...
The more inelastic the schedule, the greater the percentage of the tax that is borne on the other side of the market
a. True b. False
A pollution tax encourages firms to develop more efficient abatement technology.
A pollution tax encourages firms to develop more efficient abatement technology.
The substitution effect and the output effect
A. work in the same direction. B. work in opposite directions. C. are independent of one another, having nothing in common. D. None of these choices are correct.
If short-run equilibrium output equals 10,000, the income-expenditure multiplier equals 10, and potential output (Y*) equals 9,000, then government purchases must ________ to eliminate any output gap.
A. decrease by 100 B. increase by 1,000 C. decrease by 1,000 D. increase by 100