Which of the following statements represents a Keynesian point of view of macroeconomics?
A. focus on long-term growth in the economy
B. aggregate supply is the primary determinate of economic output
C. creating increases in aggregate demand to reduce unemployment
D. vertical aggregate supply
Which of the following statements represents a Keynesian point of view of macroeconomics?
A. focus on long-term growth in the economy
B. aggregate supply is the primary determinate of economic output
C. creating increases in aggregate demand to reduce unemployment
D. vertical aggregate supply
Related textbook solutions
Related questions
Fill in the following table:
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Neoclassical Economics |
Keynesian Economics |
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Focus on long or short term |
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Prices and wages: sticky or flexible |
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Economic output: primarily determined by aggregate demand or aggregate supply |
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Aggregate supply vertical or upward sloping |
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Phillips Curve vertical or downward sloping |
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Is aggregate demand a useful tool for controlling inflation |
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What should be the primary area of policy emphasis for reducing unemployment |
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Is aggregate demand a useful tool for ending recession |
