The Keynesian aggregate expenditures model assumes that:
a. production does not adjust to changes in aggregate expenditures.
b. aggregate supply is autonomous.
c. prices do not decrease when aggregate demand decreases.
d. aggregate supply determines the equilibrium level of real GDP.
e. prices are positively related to aggregate demand.
c
Economics
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The combination of shocks hitting an economy is:
A. usually known to policymakers before they decide what action to take. B. hard to see without looking at lots of economic data. C. difficult to identify because they are so numerous. D. irrelevant as long as the rates of inflation and real growth are known.
Economics
Coins and paper bills used as money:
a. currency b. commodity money c. representative money d. fiat money
Economics