I JUST NEED ANSWERS

Question 15 pts

The two main economic schools discussed in Unit 5 are the Keynesian theory and the Classical theory. In general, Keynesian economists support ___________, and Classical economists support ____________.

Group of answer choices

active government involvement; a limited role for the government

a free market; active government stimulation

passive government involvement; a government role limited to monetary stimulation only

stimulation of the economy in the long run; stimulation of the economy in the short run

Flag question: Question 2Question 25 pts

Keynes said that the economy acts like ___________, whereas Classical economists said that the economy acts like _________.

Group of answer choices

an elevator; a boat

a car; a train

a heat pump; a locomotive

an animal; a person

Flag question: Question 3Question 35 pts

During a recession, Keynesian economists support actions to ______________, whereas Classical economists support actions to ____________.

Group of answer choices

decrease aggregate supply; decrease aggregate demand

increase aggregate demand; increase aggregate supply

increase aggregate supply; increase aggregate demand

decrease aggregate demand; increase aggregate supply

Flag question: Question 4Question 45 pts

Keynesian economists support government actions that stimulate the economy __________, whereas Classical economists support a role for the government that helps the economy ___________.

Group of answer choices

world wide; domestically

domestically; world wide

in the long run; in the short run

in the short run; in the long run

Flag question: Question 5Question 55 pts

What do Classical economists think about the role of savings in an economy?

Group of answer choices

savings provide funds for the financial markets so that businesses can invest in their future

savings is important for people and business's long term economic health

savings help keep interest rates low

All of the listed choices are correct

Flag question: Question 6Question 65 pts

In the Keynesian model, if the marginal propensity to consume is .75, then the regular multiplier is ___ and the tax multiplier is ___.

Group of answer choices

4; -3

1.33; -.33

5; -4

3; -4

Flag question: Question 7Question 75 pts

In the Keynesian model, if the marginal propensity to save is .2, and the government increases its spending by $40 billion, then how much will total spending in the economy change?

Group of answer choices

Total spending in the economy will increase by $8 billion

Total spending in the economy will decrease by $240 billion

Total spending in the economy will increase by $100 billion

Total spending in the economy will increase by $200 billion

Flag question: Question 8Question 85 pts

In the Keynesian model, if the marginal propensity to save is .1, and the government increases taxes by $30, then how much will total spending in the economy change by?

Group of answer choices

Total spending in the economy will decrease by $270 billion

Total spending in the economy will decrease by $300 billion

Total spending in the economy will decrease by $3 billion

Total spending in the economy will increase by $300 billion

Flag question: Question 9Question 95 pts

In the Keynesian model, if the marginal propensity to consume is .89, and the government decreases its spending by $57, and it decreases taxes by $57, then how much will total spending in the economy change by?

Group of answer choices

Total spending in the economy will decrease by $57 billion

Total spending in the economy will increase by $50.73 billion

Total spending in the economy will decrease by $108 billion

Total spending in the economy will increase by $57 billion

Flag question: Question 10Question 105 pts

In the Keynesian model, if the marginal propensity to save is .2, and if the economy is experiencing a recessionary gap of $90 billion, which of the following combinations of government spending and tax changes will fix this gap?

Group of answer choices

Government spending will need to increase by $60 billion, and taxes will need to decrease by $30 billion

Government spending will need to increase by $80 billion, and taxes will need to increase by $30 billion

Government spending will need to decrease by $30 billion, and taxes will need to increase by $20 billion

Government spending will need to increase by $10 billion, and taxes will need to decrease by $10 billion