Keynesians believe that budgetary restraint should be used to cool an overheated economy.
Answer the following statement true (T) or false (F)
True
Keynesians believe in government intervention through fiscal and monetary policy to maintain full employment.
Economics
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Allocative efficiency means that
a. firms have maximized production b. all mutually beneficial trades have taken place c. the next unit sold will increase total surplus d. producer surplus is maximized e. no mutually beneficial trades have occurred
Economics
What situation gives rise to a surplus?
A. The current price of the good is above its market clearing price. B. The current price of the good is below its market clearing price. C. Supply of the good decreases, but the market price is not permitted to change. D. The market clearing price of the good is too high.
Economics