Business cycles will occur if either of the two theories below characterizes the behavior of the economy:
A) the classical or the Keynesian theories of aggregate demand.
B) the classical or the real balance theory.
C) deflation impotence or rigid nominal wages.
D) A and C.
C
Economics
You might also like to view...
During 2015, a country reports aggregate planned expenditures of $5 trillion and an actual real GDP of $4 trillion. During 2015,
A) inventories are less than planned. B) inventories are greater than planned. C) actual aggregate expenditures are greater than real GDP. D) actual aggregate expenditures are less than real GDP. E) inventories are unaffected.
Economics
Refer to the table above. If each country were to reduce production of its comparative disadvantage good by 1 unit, world output of wine would rise by
A) 1.5 units. B) 2 units. C) 3 units. D) 3.5 units.
Economics