John Maynard Keynes's contribution to our understanding of the economy was to show that an economy can be in equilibrium with high levels of unemployment
Indicate whether the statement is true or false
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In the period 1965 through the 1970s, policymakers pursued ________ policies in order to achieve ________
A) expansionary; high employment B) expansionary; low inflation C) contractionary; high employment D) contractionary; low inflation
The danger in using data to estimate the consequences of a proposed policy is that ________
A) the data can reveal only the benefits of a policy, while estimating the policy's costs is important, also B) policies change so often that data can never reveal which policies are the cause of which consequences C) the public's expectations about the policy might influence the data, making the policy seem more or less appropriate than is actually the case D) the proposed policy, if implemented, might cause unforeseeable changes in the relationships that were in operation when the data were produced
Other things equal, a monopolist will hire
A) more workers than a perfectly competitive industry. B) fewer workers than a perfectly competitive industry. C) more workers than a perfectly competitive firm. D) the same number of workers as a perfectly competitive industry would.
A merchandise trade deficit
a. occurs when net exports are positive. b. occurs when imports are greater than exports. c. is usually accompanied by decreases in foreign investment in the U.S d. occurs when domestic investment is less than domestic saving. e. none of the above.