Keynesian economists believe that fiscal and monetary policies are necessary to offset
A. changes in the price of gold.
B. the difference between imports and exchange rates.
C. the inherent instability of the private sector.
D. the growth of monopoly business and labor unions.
C. the inherent instability of the private sector.
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An example of a positive statement is:
A) The rate of unemployment is 4 percent. B) A high rate of economic growth is good for the country. C) Everyone in the country needs to be covered by national health insurance. D) Baseball players should not be paid higher salaries than the president of the United States.
Suppose investment is equal to $950 billion, purchases of newly produced capital goods is $670 billion, and changes in business inventories is -$120 billion. What does purchases of new residential housing equal?
A. $1,500 billion B. $100 billion C. $160 billion D. $400 billion