The Keynesian economic framework is based on an assumption that:

The equilibrium quantity of labor increases and the equilibrium wage decreases when:

The equilibrium quantity of labor and the equilibrium wage increase when:

If a Keynesian expenditure-output model shows that aggregate demand for both goods and labor has shifted to the left to D1, while wages remained at w0 and prices remained at P0, what will be the result?

According to the Keynesian framework, ________________________ may cause a recession, but not inflation.

Suppose that out of the original 100 increase in government spending, 33 will be recycled back into purchases of domestically produced goods and services in the second round and 10.89 is spent in the third round. Following this multiplier effect, what value would be recycled in the fourth round of this cycle?

If a Phillip curve shows that unemployment is low and inflation is high in the economy, then that economy:

Suppose that out of the original 100 increase in government spending, 60 will be recycled back into purchases of domestically produced goods and services. Following this multiplier effect, what value will be recycled in the next round in the cycle?

According to the Keynesian framework, which of the following will not help a country to get out of a recession, but may help that country reduce inflation?

In the neoclassical view of the economy, expansionary fiscal policy cannot work to raise equilibrium output because

According a neoclassical perspective, in the long run, a surge in aggregate demand will most likely result in

According to the Neo-classical view, if consumer demand slowed down

According to the neoclassical point of view

The Keynesian model focuses more on short-term fluctuations caused by business cycles and the neoclassical model focuses more on:

A vertical aggregate supply graph indicates that aggregate demand has no effect on:

According to neoclassical economists, a graph of aggregate supply in long run appears:

Potential real GDP is defined as:

Keynes believed that economies are ___ driven in the ___.

What policies will a Neoclassical Economist tell the government to enact in order to foster a healthy economy?