John Maynard Keynes believed that the equilibrium level of national income is primarily determined by aggregate expenditures
Indicate whether the statement is true or false
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What is behavioral economics?
What will be an ideal response?
With flexible exchange rates
A. The balance of trade is zero. B. The equilibrium exchange rate is determined in a foreign exchange market. C. All countries will run either a trade surplus or trade deficit. D. Foreign exchange reserves are used to offset balance-of-payment deficits.
According to supply-side economists, federal regulation of transportation services
A. Reduces AD. B. Reduces AS. C. Increase AD. D. Increases AS.
Excess burden is the
A. amount by which the burden of a tax exceeds the total revenue collected. B. differential impact the tax has on high-and low-income groups. C. ultimate distribution of a tax. D. shifting of the tax from one burden to another.