Classical theory advocates ________ policy and Keynesian theory advocates ________ policy
a. fixed wages; flexible wages
b. nonintervention; intervention
c. active; nonstabilization
d. active; passive
b
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Suppose an initial increase in government expenditure increases output by $50,000 . If the size of the multiplier is 2.5, the size of the initial increase in government expenditure was: a. $25,000
b. $20,000. c. $12,5000. d. $1250. e. $30,000.
Suppose a computer manufacturer purchases a $100 case from a supplier, a $300 computer chip from another supplier, and sells the computers for $1000 . How much did the company contribute to GDP?
a. $1000 b. $900 c. $700 d. $600 e. $400
Real GDP is the
A. Value of final output produced, measured in current prices. B. GDP minus depreciation. C. Value of final output produced, adjusted for changing prices. D. Income earned by current factors of production.
A major benefit of a health savings account is that it
A) combats moral hazard. B) means more health care services will be demanded. C) eliminates rising health care costs. D) creates the incentive to see a doctor regularly.