If Asked About the Basic Functioning of the Economy,a Keynesian

question 87

Multiple Choice

If asked about the basic functioning of the economy,a Keynesian economist would state that

• A) prices are flexible.
• B) the market tends toward stability and full employment.
• C) the market tends toward instability and cyclical unemployment.
• D) savings is crucial to growth.
• E) the long run is more important than the short run.

---

Definitions:

Three Levels

The concept of dividing an organization, strategy, or process into three distinct layers or stages for analysis, decision-making, or implementation purposes.

Organizational Change

The process through which a company or organization undergoes a transformation in its culture, structure, processes, or strategies.

Group-Level

Pertains to analysis, decision-making, or dynamics that occur within a cohesive group of individuals within an organization.

Negative Feedback

A process in which the system responds in such a way as to reverse the direction of change. In a workplace context, it typically refers to constructive criticism aimed at improving performance.