Multiple Choice
Which of the following was a central argument of Keynes's General Theory?
A) Competition does not allocate resources efficiently in a modern industrial economy.
B) Full employment can be maintained even during a major recession if wage rates are lowered far enough.
C) Modern industrial economies do not tend automatically toward full employment rates of output.
D) Money does not play an important role in either causing or curing recession.
E) Government can best stabilize the economy by letting the market system automatically adjust toward full employment.
Correct Answer:

Verified
Correct Answer:
Verified
Q60: Exhibit 5-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 5-1
Q61: Exhibit 5-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 5-3
Q62: Between 1947 and 1998,total U.S.employment<br>A)remained about the
Q63: If business leaders become pessimistic about future
Q64: Given an aggregate supply curve that slopes
Q66: On an aggregate demand and aggregate supply
Q67: Which of the following events did not
Q68: The aggregate supply curve indicates<br>A)the quantity of
Q69: Stagflation is best described as<br>A)increasing output and
Q114: The Reagan administration's policies were aimed at