Which of the Following Statements Concerning Keynesian Analysis Are True

question 67

Multiple Choice

Which of the following statements concerning Keynesian analysis are true?

• A)Keynes's analysis started with the recognition that the total quantity demanded of an economy's output was the sum of four types of spending: consumer expenditure,planned investment spending,federal government spending,and state and local government spending.
• B)Keynes recognized that equilibrium would occur in the economy when total quantity of output supplied (aggregate output produced)equals quantity of output demanded (Y^ad),that is,when Y = Y^ad
• C)Keynes's analysis involves explaining why wage rates are at a certain level by understanding what factors affect labor demand and why this could cause output to be greater than the economy is capable of producing,resulting in high inflation.
• D)Keynes's analysis explains how the price level will change when the total quantity of output supplied changes.

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