Who was one of the first proponents of employing market economies instead of command economies?
a. Robert Heilbroner. b. Karl Marx.
c. Jeffrey Sachs. d. Adam Smith.
Question 2
The spending multiplier indicates that:
a. changes in investment, government, or consumption spending trigger much larger changes in real GDP.
b. an autonomous increase in saving will cause output to rise by a multiple of the additional saving.
c. a market economy will be more stable than classical economists thought.
d. the marginal propensity to consume is greater than one.
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