The Keynesian explanation of the Great Depression focuses on
a. large rises in government spending.
b. large increases in taxes
c. large increases in planned investment.
d. an increase in expectations.
C
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The short-run aggregate supply curve
A. shows the relationship between aggregate production and the price level holding constant potential GDP and all resource prices .
B. shows a negative relationship between the price level and real national income holding constant potential GDP and all resource prices.
c. shows what each producer is willing and able to produce at each level of income holding constant potential GDP and all resource prices.
d. becomes vertical if there is excess production capacity within the economy.
Firms that emit toxins into the air:
A. underproduce because the private cost of production exceeds the social cost. B. overproduce because the social cost of production exceeds the private cost. C. produce the same as nonpolluting firms. D. produce at the socially optimal amount.