Author Question: Using the Keynesian aggregate expenditures model, which of the following is true? a. Macro ... (Read 35 times)

tfester · **on:** Jun 30, 2018

Using the Keynesian aggregate expenditures model, which of the following is true?
a. Macro equilibrium may occur at levels of real GDP other than full-employment real GDP.
b. At any macro equilibrium, the actual rate of unemployment must equal the natural rate of unemployment.
c. If an economy is operating below full employment capacity, the Keynesian model indicates that lower wage rates will automatically adjust the economy back to full employment.
d. All of these are correct.

Question 2

The exchange of one good for another, without the use of money, is known as:
a. acquisitive exchange.
b. liquidity.
c. volatility.
d. barter.
e. currency.