________ believed that economic downturns would generally reverse themselves quickly without policy intervention.
A. Neither Keynes nor the classical macroeconomic theorists
B. Keynes
C. Classical macroeconomic theorists
D. Both Keynes and the classical macroeconomic theorists
Answer: C
You might also like to view...
Refer to Figure 4-3. Kendra's marginal benefit from consuming the second ice cream cone is
A) $6.50. B) $6.00. C) $3.00. D) $2.25.
Which of the following is consistent with an active approach to policy?
a. The natural rate of unemployment being uncertain b. Wages and prices being relatively quick to adjust c. The short-run aggregate supply curve being slow to shift in the presence of a recessionary gap d. The size of the multiplier being irrelevant e. The aggregate demand curve being slow to shift in the presence of a recessionary gap
The difference, in terms of economic goals, between developing countries and developed countries is that:
A. developing countries focus primarily on achieving an equitable distribution of income, while developed countries focus on higher economic growth rates. B. there are no differences between the economic goals of developing and developed countries. C. developing countries focus primarily on achieving economic stability, while developed countries focus on an acceptable growth rate. D. developing countries focus primarily on meeting basic needs, while developed countries focus on economic stability.
The monopolist
A. is a perfect competitor. B. has a horizontal demand curve. C. produces where MC equals MR. D. None of the choices are correct.