Multiple Choice
Keynes believed that
A) the internal structure of the economy is extremely competitive and that wage-price flexibility exists.
B) monopolistic elements in the economy prevent immediate and sharp price declines in response to falling demand.
C) even though there are monopolistic elements in the economy,wage-price flexibility exists.
D) in spite of the competitiveness of the economy,wage-price flexibility does not exist.
Correct Answer:
Verified
Correct Answer:
Verified
Q190: The economy can be in equilibrium and
Q191: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q192: Consumption and disposable income are<br>A) indirectly related.<br>B)
Q193: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q194: John Maynard Keynes drew many economists _
Q195: The classical economists believed _ determined savings,while
Q196: According to the efficiency wage model,firms tend
Q198: If Keynes's theory is correct,wage rates may
Q199: Inventory levels unexpectedly fall and as a
Q200: Which of the following statements is false?<br>A)