John Maynard Keynes was the founder of modern macroeconomics. He believed that ... Group of answer choices   a. Persistent unemployment was a temporary phenomenon in the macroeconomy b. Consumer and business expectations play a large part in the macroeconomy c. LRAS was unstable d. Consumers and businesses acted together and would resolve downturns in the economy

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter25: The Keynesian Perspective
Section: Chapter Questions
Problem 1SCQ: In the Keynesian framework, which of the following events might cause a recession? Which might cause...
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John Maynard Keynes was the founder of modern macroeconomics. He believed that ...
Group of answer choices
 
a. Persistent unemployment was a temporary phenomenon in the macroeconomy
b. Consumer and business expectations play a large part in the macroeconomy
c. LRAS was unstable
d. Consumers and businesses acted together and would resolve downturns in the economy
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