A depository institution receives deposits from lenders and makes loans to borrowers

The above figure shows the market for steel ingots. If the market is competitive, then the competitive market level of output is

A) 100 units. B) 150 units. C) 50 units. D) 300 units.

Critics of the Keynesian view of closing a recessionary gap argue that

a. Keynesians fail to appreciate the self-correcting nature of the economy b. government spending is virtually cost-free because resources are unemployed c. deficit financing places no burden on the economy d. public works programs never continue beyond their usefulness e. deficits are always needed to stimulate the economy