Question
A Keynesian basically believes that Select one: Demand will adjust to restore full employment equilibrium Economics is just too hard and we should all give
A Keynesian basically believes that
Select one:
Demand will adjust to restore full employment equilibrium
Economics is just too hard and we should all give up
Supply will adjust to restore full employment equilibrium
Government spending is necessary to restore full employment equilibrium
An inflationary gap means that
Select one:
Actual real GDP is greater than potential GDP
Actual real GDP is equal to potential GDP
Actual real GDP is greater than or less than potential GDP
Actual real GDP is less than potential GDP
The international substitution effect says that if domestic prices go
Select one:
Down then demand for domestically produced goods will decrease and AD will increase
Down then demand for domestically produced goods will increase and AD will increase
Up then demand for domestically produced goods will increase and AD will increase
Up then demand for domestically produced goods will increase and AD will decrease
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