According to John Maynard Keynes
a. effective demand determines real GDP.
b. Say's Law is always correct.
c. a free market economy automatically finds equilibrium at full employment.
d. prices and wages move up and down freely.
e. supply creates its own demand.
a
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Along the inelastic portion of a demand curve,
a. the change in price will always be less than the change in quantity demanded. b. the percentage change in price will be less than the percentage change in quantity demanded. c. the change in price will always be more than the change in quantity demanded. d. the percentage change in price will be more than the percentage change in quantity demanded.
Which of the following sets of variables represent Injections into the Circular flow of Income?
(a) Investment, imports, savings and subsidies. (b) Savings, taxes, government expenditure and imports. (c) Government expenditure, taxes, exports and investment. (d) None of the above.