ECO401 Quiz 3 Solution and Discussion
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The concept that “Demand creates its own supply" is given by:
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Gross National Product (GNP) is:
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Overestimation of national product in national income calculations is known as:
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Suppose if investment rises by Rs 100 billion at each price level. If the value of the multiplier is 4, what is the amount of change in real GDP demanded at each price level?
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The aggregate supply curve is the relationship between the:
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If leakages into the circular flow of income rise, then the value of multiplier will:
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In Keynesian economics, an inflationary gap results if aggregate expenditures are:
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Gross Domestic Product is:
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Unemployment due to changing job or due to movement around the country is known as:
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Unlike the Classical economists, Keynes believed that the economy could get stuck in the short run for a significant period of time because: