Historical note: Since the end of World War II, the U.S. economy has experienced
a. no recessions
b. one recession
c. approximately one recession each year
d. 100 recessions
e. 11 recessions
E
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According to Keynesian economics, if there are unutilized resources in the economy and aggregate demand decreases
A) real GDP will rise and price level will remain constant. B) real GDP will fall and price level will remain constant. C) real GDP will rise and price level will rise. D) real GDP will rise and price level will fall.
Which of the following statements is always true?
A) Investment equals depreciation. B) Investment equals the capital stock minus depreciation. C) The capital stock is equal to investment minus depreciation. D) Any change in the capital stock is equal to investment minus depreciation. E) The increase in investment is equal to the capital stock minus depreciation.