According to Keynesians, __________ monetary policy will not remove the economy from a(an) __________ gap if __________
A) contractionary; recessionary; investment is interest-insensitive
B) expansionary; recessionary; the economy is in the liquidity trap
C) expansionary; inflationary; investment is interest-insensitive
D) contractionary; inflationary; the economy has been in the inflationary gap for more than one year
E) none of the above
B
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A fall in the long-run real interest rates leads to a ________
A) leftward shift of the labor supply curve B) leftward shift of the labor demand curve C) rightward shift of the labor supply curve D) rightward shift of the labor demand curve
The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The marginal cost borne by producers when 200 billion kilowatt hours are produced is
A) 0¢ per kilowatt. B) 10¢ per kilowatt. C) 20¢ per kilowatt. D) 15¢ per kilowatt. E) 5¢ per kilowatt.
The economies of the Four Tigers are all classified as middle income by the World Bank
Indicate whether the statement is true or false
Identify the error in judgment in each of the following statements: I. "If you leave a concert during the encore, you will avoid traffic and get home more rapidly; therefore everyone should leave during the encore." II. "Whenever I wear my lucky baseball cap to an exam, I receive an "A." My baseball cap must induce the teacher to give me good grades."