Chapter 13 Multiple Choice Answer Key - Chapter 13 A Walk...

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Principles of Macroeconomics
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Chapter 13 / Exercise 5
Principles of Macroeconomics
Mankiw
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Chapter 13 - A Walk Through the Twentieth Century and BeyondChapter 13A Walk Through the Twentieth Century and BeyondMultiple Choice Questions1. Which of the following is a statement of Say's Law? A. Demand creates its own supply.B.Supply creates its own demand.C. The costs of production decrease as output increases.D. The costs of production increase as output increases
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 13-01 Explain why neoclassicists believe the economy will automatically achieve full-employment equilibrium.Topic: 13-02 Classical Economics and Say's Law2. Which school of thought believed that long-run equilibrium occurs automatically and is the normal state of affairs in a market economy?
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 13-01 Explain why neoclassicists believe the economy will automatically achieve full-employment equilibrium.Topic: 13-03 Neoclassical Economists and Aggregate Demand and Supply13-1
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Principles of Macroeconomics
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Chapter 13 / Exercise 5
Principles of Macroeconomics
Mankiw
Expert Verified
Chapter 13 - A Walk Through the Twentieth Century and Beyond3. What do Keynesians believe?
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: MediumLearning Objective: 13-02 Describe how Keynesian economics challenged accepted beliefs about curing economic depression and maintaining prosperity.Topic: 13-08 The Keynesian Response to Neoclassical Theory4. What ensures the equality of savings and investment, according to neoclassical theory?
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: MediumLearning Objective: 13-01 Explain why neoclassicists believe the economy will automatically achieve full-employment equilibrium.Topic: 13-04 Theory of Loanable Funds5. When did the Great Depression occur? A. At the beginning of the twentieth centuryB. In the seven years following World War IC.During the decade of the 1930sD. In the five years following World War II
Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: EasyLearning Objective: 13-02 Describe how Keynesian economics challenged accepted beliefs about curing economic depression and maintaining prosperity.Topic: 13-07 The Depression13-2
Chapter 13 - A Walk Through the Twentieth Century and Beyond

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