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© 2014 Pearson Canada Inc.#
Keynes was especially concerned with explaining the ____.
A) recession of 1920- 21
B) low levels of output and employment during the Great Depression
C) strong economic growth of the 1920s
D) high unemployment in Great Britain during the 1920s
Answer: B
Diff: 2 Type: MC Page Ref: 541
Skill: Recall
Objective List: 22.1 Utilize the Keynesian cross model for the determination of aggregate output
Keynes was especially concerned with explaining the ____ level of output and
employment during the ____.
A) low; 1920s
B) low; 1930s
C) high; 1920s
D) high; 1930s
Answer: B
Diff: 2 Type: MC Page Ref: 541
Skill: Recall
Objective List: 22.1 Utilize the Keynesian cross model for the determination of aggregate output
In the simple Keynesian model, equilibrium aggregate output is determined by ____.
A) aggregate demand
B) aggregate supply
C) the national demand for labor
D) the price level
Answer: A
Diff: 2 Type: MC Page Ref: 542
Skill: Recall
Objective List: 22.1 Utilize the Keynesian cross model for the determination of aggregate output
Under Keynesian analysis, aggregate demand can be written as ____.
A) = C + I + G + NX
B) = C + I + G - NX
C) = C - I - G - NX
D) = C + I - G - NX
Answer: A
Diff: 2 Type: MC Page Ref: 542
Skill: Recall
Objective List: 22.1 Utilize the Keynesian cross model for the determination of aggregate output