Which of the following is not true of Keynes?
A. Professor at Cambridge
B. Wrote the book The General Theory of Employment, Interest and Money
C. Big fan of monetary policy
D. Active in the arts
E. Focused on the short run
Answer: C. Big fan of monetary policy
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The ultimate effect of a reduction in the money supply is: a. a leftward shift of the aggregate demand curve
b. a rightward shift of the short-run aggregate supply curve. c. a movement upward along the aggregate demand curve. d. a movement downward along the aggregate demand curve. e. a movement upward along the short-run aggregate supply curve.
The supply of stock
A) comes from new issues. B) comes from current shareholders. C) comes from new shares and current stockholders. D) comes from new shares, current stockholders, and the Federal Reserve.
Suppose the U.S. can produce 10 units of food and 5 units of clothing (or any linear combination) and Canada can produce 6 units of food and 3 units of clothing (or any linear combination)
What type of trade will occur between these two countries? Explain.
A concern about long-run economic growth was important in economics:
A. from the time of John M. Keynes and his General Theory. B. from the time of Karl Marx and his Das Kapital. C. only since the 1970s. D. from the time of Adam Smith and his The Wealth of Nations.