Passive policy advocates believe that uncertain lags and ignorance about how the economy works prevent policy makers from accurately determining and effectively implementing the appropriate active policy

When a business has implicit costs

A) economic profits are greater than accounting profits. B) economic and accounting profits are the same. C) economic profits are less than accounting profits. D) economic costs are the same as accounting costs.

Keynes believed that an increase in savings would:

A. raise aggregate demand by increasing consumption. B. raise aggregate demand by reducing investment. C. reduce aggregate demand by reducing investment. D. reduce aggregate demand by reducing consumption.