In which of the following cases is expansionary fiscal policy LEAST effective in increasing output?
A. if wages adjust rapidly to maintain equilibrium in the labor market
B. if wages do not change much even when there is high unemployment
C. if it is combined with expansionary monetary policy
D. if we have a Keynesian AS-curve
E. if the Fed is trying hard to keep interest rates from rising
查看答案
An increase in government purchases will NOT increase the level of output if
A. the AS-curve is totally price elastic
B. the price level is fixed
C. wages and prices are completely rigid
D. wages and prices are completely flexible
E. real money balances are not affected
The Keynesian AS-curve differs from the classical AS-curve, since Keynes
A. thought that labor markets worked smoothly to always establish full employment
B. thought that nominal wages were flexible even when there was unemployment
C. thought that nominal wages were rigid even when there was unemployment
D. described the AS-curve as completely vertical
E. assumed that firms tried to exploit the work force by paying them substandard wages
The Keynesian AS-curve implies that
A. the economy is always at the full-employment level of output
B. the price level is unaffected by current levels of GDP
C. wages are perfectly flexible
D. real money balances decrease as the AD-curve shifts to the right
E. an increase in nominal money supply will not affect the level of real GDP
In the Keynesian aggregate supply curve case,
A. firms will always supply the amount of goods demanded at the existing price level
B. consumers will demand whatever is supplied by firms at each price
C. the economy is always at full employment
D. unemployment is always at its natural rate
E. none of the above
微信支付 
支付宝支付