Keynes's motivation in developing the aggregate output determination model stemmed from his concern with explaining
A) the hyperinflations of the 1920s.
B) why the Great Depression occurred.
C) the high unemployment in Great Britain before World War I.
D) the high unemployment in Great Britain after World War II.
B
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Interest rates set by the European central bank during the period 1999-2004 resulted in what situation compared to that in the United States?
a. European rates were exactly the same as those in the United States, resulting in uncovered interest parity. b. European rates were consistently higher than U.S. rates. c. European rates were consistently lower than U.S. rates. d. At first the European rates were much higher, but then the ECB acted aggressively to lower them.
Needs-tested spending is best described as
A) spending on programs that entitle qualified persons and businesses to receive benefits. B) spending on programs that have been tested in some manner. C) spending on programs that have proven over time to be sound investments. D) spending on programs that are considered necessities (needed) according to surveys of the public. E) not spending at all but a reference to the reliability of budget.