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    Keynes emphasized that because there is no automatic adjustment back to full employment: A) Equilibrium GDP might be less than full employment. B) A recession might occur. C) Cyclical unemployment could persist.

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    Keynes emphasized that because there is no automatic adjustment back to full employment: A) Equilibrium GDP might be less than full employment. B) A recession might occur. C) Cyclical unemployment could persist.

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    3 views1 page

    Untitled

    Uploaded by

    book022
    Keynes emphasized that because there is no automatic adjustment back to full employment: A) Equilibrium GDP might be less than full employment. B) A recession might occur. C) Cyclical unemployment could persist.

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    Chapter 10: Self-Adjustment or Instability? Multiple Choice Questions 1.

    The output level at which the aggregate demand curve intersects the aggregate supply is always the level at which: A) Saving is zero. C) Full employment is sustainable b y the economy. B) Macro equilibrium is achieved. D) All of the above. Answer: B Type: Basic Understanding Page: 198

    2. Keynes emphasized that because there is no automatic adjustment back to full employment: A) Equilibrium GDP might be less than full employment. B) A recession might occur. C) Cyclical unemployment could persist. D) All of the above. Answer: D Type: Basic Understanding Page: 198

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