According to the Keynesian model, an economy will have persistent, high unemployment if:
A. the government runs a budget deficit.
B. markets operate freely.
C. its total spending is too low.
D. firms make too many investments.
Answer: C
Economics
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The global economy enters a recession, thereby decreasing the level of U.S. exports. If the aggregate supply curve does not shift, then aggregate demand will ________, real GDP will ________, and the price level will ________
A) increase; increase; remain the same B) increase; remain the same; increase C) decrease; increase; increase D) decrease; decrease; decrease E) remain the same; increase; increase
Economics
Economists use the word utility to describe the satisfaction one receives from a good
Indicate whether the statement is true or false
Economics