Most Economists Think That the Keynesian Position Is That

question 51

Multiple Choice

Most economists think that the Keynesian position is that

• A) the wage rate will never fall and the price level will never adjust downward if the economy is in a recessionary gap.
• B) the time required before wages and prices adjust downward is short enough for the economy to be called self-regulating.
• C) the time required before wages and prices adjust downward is long enough for the economy to exist in a recessionary gap for a long time.
• D) the time required before wages and prices adjust downward if the economy is in a recessionary gap is rather long,but short enough for the economy to be considered self-regulating.

---

Definitions:

Problem-Solving Technique

Methodologies or approaches applied to identify solutions to complex issues or challenges.

Delphi Technique

A method used in forecasting and decision-making, where a panel of experts answers questionnaires in several rounds, and after each round, their responses are aggregated and shared with the group for further refinement.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group by having members write down their ideas and then collectively discussing and ranking them.

Delphi Technique

A method used to gather data and achieve consensus among experts through multiple rounds of questioning and feedback.