Keynes believed that the way to prevent recessions and depressions was to
A) increase aggregate demand through expansionary fiscal policy.
B) maximize the crowding out effect.
C) only change tax rates as a means of regulating the economy.
D) reduce spending when there is a recessionary ga
A
Economics
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Income elasticity of demand is defined as
A) the change in income divided by the change in quantity. B) the change in price divided by the change in income. C) the percentage change in demand divided by the percentage change in income. D) the change in income multiplied by the change in quantity.
Economics
Figure 11-3
In Figure 11-3, which of the following is true, whether or not the monopolist is maximizing profits?
a.
MR < P
b.
MC = P
c.
MC < AC
d.
MR = P
Economics