According to classical theory, national income depends on , while Keynes proposed that
Determined the level of national income.
A) aggregate demand; aggregate supply
B) aggregate supply; aggregate demand
C) monetary policy; fiscal policy
D) fiscal policy; monetary policy
Correct Answer:
Verified
Q2: The variable that links the market for
Q4: Two interpretations of the IS-LM model are
Q6: When firms experience unplanned inventory accumulation, they
Q8: The Keynesian cross shows:
A) determination of equilibrium
Q10: In the Keynesian-cross model, actual expenditures equal:
A)
Q12: When planned expenditure is drawn on a
Q15: Planned expenditure is a function of:
A) planned
Q17: The equilibrium condition in the Keynesian-cross analysis
Q19: John Maynard Keynes wrote that responsibility for
Q20: For the purposes of the Keynesian cross,
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