In the basic Keynesian model all of the following are true EXCEPT:
A. planned net exports always equal actual net exports.
B. planned investment always equals actual investment.
C. planned consumption always equals actual consumption.
D. planned government spending always equals actual government spending.
Answer: B
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A fair game is a game in which the chances are 50-50 that you win or lose
Indicate whether the statement is true or false
Refer to the above figure. The market clearing price is
A) $2. B) $6. C) $8. D) $10.
Based on the graphic for perfect competition versus monopoly, the difference between the consumer surplus of perfect competition and the consumer surplus of a monopoly is ______.
a. -a-b
b. -c
c. -b
d. -b-c
Figure 8.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q = 50, the total variable cost is:
A. $1,200. B. $1,500. C. $2,100. D. $2,800.