John Maynard Keynes developed the aggregate expenditures model in order to understand the
A. Great Depression.
B. Great Recession of 2007-2009.
C. Second World War.
D. oil crises of the 1970s and 1980s.
Answer: A
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In the above figure, when the price of a gallon of gasoline falls, which points in the above figure are used to derive points on the consumer's demand curve for gasoline?
A) points A and B B) points A and C C) points B and C D) points A, B, and C
Only a small proportion of corporate stock owners have incomes under $100,000
Indicate whether the statement is true or false
When actual output is less than potential output there is a(n):
A. trade deficit. B. budget deficit. C. recessionary gap. D. budget surplus.
Macroeconomics is best defined by which of the following statements?
A. Macroeconomics is the study of how the prices of individual goods are determined. B. Macroeconomics is the study of the behavior of the economy as a whole. C. Macroeconomics is the study of individual households. D. Macroeconomics is the study of how firms attempt to maximize profits.