When Comparing the Keynesian Approach and the Monetarist Approach, the Only

question 56

Multiple Choice

When comparing the Keynesian approach and the monetarist approach, the only substantive difference is that

• A)the Keynesian equation leads to a prediction of real GDP, while the monetarist equation leads to a prediction of nominal GDP.
• B)Keynesians concentrate on aggregate demand and monetarists concentrate on aggregate supply.
• C)Keynesians approach aggregate demand by multiplying the money supply by velocity, while monetarists use the equilibrium conditions of the expenditure schedule.
• D)Keynesian analysis suggests that money affects consumption first, while monetarist analysis suggests that money affects investment spending first.

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Industrial Union

A union representing all the workers in a single industry, regardless of each worker’s skill or craft.

Teamsters' Union

A labor union in the United States and Canada primarily representing workers in the transportation and logistics industries.

Auto Workers

Individuals who are employed in the automobile manufacturing industry.

Labor Unions

Organizations that represent workers in negotiations with employers regarding wages, working conditions, and other employment rights.