John Maynard Keynes
A) agreed with classical writers that strong automatic pressures drive market economies to full employment.
B) focused on attaining the long-run macroeconomic goal of high,but stable economic growth.
C) argued that a market economy might become stuck in a short-run equilibrium in which substantial capital and labor lay idle.
D) argued that short-run equilibrium occurs only at full employment.
Correct Answer:
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Q30: According to classical macroeconomic theory,
A)aggregate supply automatically
Q31: If the economy is in the vertical
Q32: The classical theory of the loanable funds
Q33: The wealth or real balances effect indicates
Q34: Keynesian economics finds fault with the classical
Q36: Increases in aggregate demand
A)lead to increases in
Q37: Classical economics was based upon the belief
Q38: As the maximum output level (real GDP)is
Q39: If the economy is in the vertical
Q40: The classical theory of employment held that
A)total
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