Keynes believed the economy was:
A) fluctuating around potential income.
B) always at potential income.
C) always moving away from potential income.
D) always moving toward potential income.
Correct Answer:
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Q8: Some economists believe that the good times
Q9: If productivity and wages both rise by
Q10: The short-run aggregate supply curve is upward
Q11: Potential income is that level of income
Q12: Equilibrium income is that level of income:
A)which
Q14: Keynes believed equilibrium income was:
A)not fixed at
Q15: Starting from a long-run equilibrium, an increase
Q16: According to the Keynesian model,
A)wages are flexible
Q17: The repercussions that the money wealth and
Q18: In principle, we would expect the aggregate
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