Author Question: The Keynesian approach to government economic policy: a. has emphasized the role of individual ... (Read 58 times)

nenivikky · **on:** Jun 30, 2018

The Keynesian approach to government economic policy:
a. has emphasized the role of individual self-interest as a powerful stabilizing force.
b. has consistently failed to reduce fluctuations in economic activity.
c. was ineffective during the 1960s.
d. highlighted the role of aggregate demand.
e. was rechristened supply-side economics around 1980.

Question 2

In a monopolistic competitive industry, short-run economic profit encourages entry of new firms until there are no economic profits in the long-run.
a. True
b. False
Indicate whether the statement is true or false