In the traditional Keynesian model, an increase in government spending leads to all of the following EXCEPT
A) a higher price level. B) an increase in aggregate demand.
C) an increase in consumption. D) higher real GDP.
A
Economics
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Which of the following statements is (are) incorrect?
a. Consumption plays a central role in the Keynesian theory of income determination b. Consumer expenditure is the largest component of aggregate demand c. In recent years, consumption has totaled between 60 and 70 percent of GDP d. Keynes believed that investment was largely determined by expectations e. all of the above are correct
Economics
The text points out that since the 1970s, which of the following regions of the United States became a "population magnet?"
a. Midwest b. Northeast c. South d. West e. North
Economics