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ch10--practice questions

ch10--practice questions - Name Date 1 John Maynard Keynes...

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Name: __________________________ Date: _____________ 1. John Maynard Keynes wrote that responsibility for low income and high unemployment in economic downturns should be placed on: A) low levels of capital. B) an untrained labor force. C) inadequate technology. D) low aggregate demand. 2. The IS-LM model takes ______ as exogenous. 3. The IS curve plots the relationship between the interest rate and ______ that arises in the market for ______. 4. In the Keynesian-cross model, actual expenditures differ from planned expenditures by the amount of: 5. According to the analysis underlying the Keynesian cross, when planned expenditure exceeds income: A) income falls. B) planned expenditure falls. C) unplanned inventory investment is negative. D) prices rise. Page 1
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Use the following to answer questions 6-8: Exhibit: Keynesian Cross
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