According to Say's law:
A) because households save some of their income, not all goods and services produced will be purchased.
B) the demand for products creates the supply of products.
C) recessions occur because income from the production of goods is insufficient to ensure full employment.
D) the act of producing goods and services generates income that is equivalent to the value of goods and services produced enabling buyers to purchase those goods.
Correct Answer:
Verified
Q1: When the economy is producing above full
Q3: The classical aggregate supply curve is:
A) vertical.
B)
Q4: The aggregate demand curve shows the relationship
Q5: Patinkin and Modigliani argue that Keynes' argument
Q6: Recall Application 1, "Avoiding a Liquidity Trap,"
Q7: Rising wages and input prices:
A) cause the
Q8: AN UNFORTUNATE GAMBLE
What explained the decision by
Q9: Say's Law states that:
A) people are motivated
Q10: The process by which changes in wages
Q11: Which of the following curves is drawn
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents