A primary emphasis of the Keynesian school is the economy:
a. has a tendency to always create a full-employment level of output.
b. has a tendency to always create inflationary pressure at all levels of output.
c. has a tendency to eliminate unemployment by lowering wage rates to create an equilibrium in the labor market.
d. is driven by the supply-side of the market.
e. has a tendency to be in equilibrium at less than full employment.
e
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In a market system, ________ provide signals about whether resources are relatively scarce or abundant
A) prices B) economists C) government officials D) scientists and engineers
When a tax is imposed on an item, it can generally be said that the incidence of the tax is
a. entirely on the buyer. b. entirely on the seller. c. on both the buyer and seller. d. not determined in this manner.