Keynes's Theory of Macroeconomics Rejects Classical Macroeconomists' Assumptions That

question 91

Multiple Choice

Keynes's theory of macroeconomics rejects classical macroeconomists' assumptions that

• A) prices and wages are flexible.
• B) all investment comes from saving.
• C) self-correction takes a long time.
• D) equilibrium can be achieved below full employment.

---

Definitions:

European Works Council

A workforce consultation body set up in multinational companies operating within the European Economic Area (EEA) for the purpose of informing and consulting employees on transnational issues affecting them.

Deferred Action

A discretionary, temporary relief from deportation granted by the Department of Homeland Security to eligible individuals who lack a lawful immigration status.

Deportation

The formal removal of a person from a country where they are not a citizen due to legal violations or threat to public safety.

Globalization

The way in which corporations or different organizations acquire international impact or initiate operations globally.