Author Question: In a one-period economy, all of the following are equivalent expressions of the budget constraint ... (Read 54 times)

pepyto · **on:** Jun 30, 2018

In a one-period economy, all of the following are equivalent expressions of the budget constraint except

A) C = w(NS + l) + - T.
B) C = wNS + - T.
C) C = w(h - l) + - T.
D) C = wl = wh + - T.

Question 2

Keynes believed that an important source of instability in the economy was instability

a. of private investment demand.
b. in the marginal propensity to consume (b).
c. of expectations.
d. in tax collections.
e. Both a and c