The Keynesian explanation of the Great Depression focuses on
a. large rises in government spending.
b. large increases in taxes
c. large increases in planned investment.
d. an increase in expectations.
C
You might also like to view...
A firm is employing capital and labor such that the marginal product of capital is 80 and the marginal product of labor is 20
If the price of a unit of capital is $30 and the price of a unit of labor is $15, is the firm minimizing its costs? If not, can you recommend a change for the firm to make in its relative amounts of labor and capital used? Explain.
Efficiency wages cause unemployment because
A) firms pay wages that are above the market wage, causing the quantity of labor demanded to be greater than the quantity of labor supplied. B) firms pay wages that are above the market wage, causing the quantity of labor demanded to be less than the quantity of labor supplied. C) firms pay wages that are below the market wage, causing the quantity of labor demanded to be less than the quantity of labor supplied. D) firms pay wages that are below the market wage, causing the quantity of labor demanded to be greater than the quantity of labor supplied.
The present aim standard of rationality accommodates a much ________ range of observed behavior than traditional economic models, but has been criticized because the model is too ________.
A. broader; flexible B. narrower; inflexible C. broader; inflexible D. narrower; flexible
The joining of firms that are producing or selling a similar product is known as
A) a conglomerate merger. B) a horizontal merger. C) a vertical merger. D) economies to scale.