Keynesian economists argue that
A) equilibrium real GDP is demand-determined.
B) equilibrium real GDP is supply-determined.
C) equilibrium real GDP can be reached only in a theoretical economy.
D) reaching equilibrium real GDP always results in inflation.
Question 2
Considering the relevant market structures, which is an INCORRECT statement?
A) In a perfectly competitive situation, there is an extremely large number of firms.
B) In pure monopoly, there is only one firm.
C) In monopolistic competition, there is a large number of firms.
D) In any market situation, the number of firms is not very important.
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