In the Simple Keynesian Model, the investment function is: Autonomous Dependent on the rate of interest Dependent on the level of output. Dependent...
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M.C.Q.:In the Simple Keynesian Model, the investment function is:AutonomousDependent on the rate of interest

    • Dependent on the level of output.
    • Dependent on the level of government spending


    2 Arthur Okun's notion of the GDP Gap is based on:

    • Deductive model-building
    • Econometric analysis of time-series data on the U.S. economy.
    • The Complete Keynesian Model
    • Supply-side economics.


    3 Friedman's Natural Rate of Unemployment thesis reinforces:

    • The instability of the full-employment level of output.
    • The short -run neutrality of money.
    • The inability of the government to influence aggregate output in the short-run.
    • The long-run neutrality of money.


    4 In the Keynesian view, the neo-classical model of output and employment is:

    • Based entirely on a quasi-Marxist perspective on surplus value
    • Only a special case of his General Theory
    • Only based on Say's Law
    • Only valid in an open-economy.


    5 Supply creates its own demand ' is a statement famously attributed to :

    • Jean -Baptiste Say
    • John Maynard Keynes
    • Alfred Marshall
    • Leon Walras


    6 The Simple Keynesian Model is characterized by : 

    • A fixed price level
    • A flexible price level
    • A perfectly inelastic aggregate supply curve
    • An upward sloping aggregate supply curve

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