Which of the following statements are correct? i. In the Keynesian model there will always be an automatic tendency towards full employment if the economy is operating at a level of production or ncome below full-employment. ii. Macroeconomic theory deals with events that occurred in the past. iii. Consumption spending can exceed income. O A. i,ii and iii O B. ii O C. i and ii ⒸD. iii
Which of the following statements are correct? i. In the Keynesian model there will always be an automatic tendency towards full employment if the economy is operating at a level of production or ncome below full-employment. ii. Macroeconomic theory deals with events that occurred in the past. iii. Consumption spending can exceed income. O A. i,ii and iii O B. ii O C. i and ii ⒸD. iii
Chapter22: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
Problem 16P
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income below full-employment. ii. Macroeconomic theory deals with events that occurred in the past. iii. Consumption spending can exceed income.
A. i, ii and iii
O B. ii
C. i and ii
D. iii"
Transcribed Image Text:Which of the following statements are correct? i. In the Keynesian model there will always be an automatic tendency towards full employment if the economy is operating at a level of production or
income below full-employment. ii. Macroeconomic theory deals with events that occurred in the past. iii. Consumption spending can exceed income.
A. i, ii and iii
O B. ii
C. i and ii
D. iii
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