In the Simple Keynesian Model

question 40

Multiple Choice

In the simple Keynesian model,

• A)Inflation becomes a problem only if demand increases at full employment.
• B)Inflation is a problem whenever demand increases.
• C)Inflation is never a problem.

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Definitions:

Legislatures

Elected bodies of government responsible for enacting laws, regulations, and typically consisting of one or two chambers or houses.

Courts

Institutions designated by a legal system to adjudicate disputes, interpret laws, and administer justice.

Secondary Deviance

The process of a person’s self-concept changing after being publicly labeled as deviant, leading to further deviant behavior.

Deviant Identity

The self-conception and social identity of an individual who is seen as deviating from the norms or values of society, often resulting in stigma or social exclusion.