Which of the Following Is False

question 129

Multiple Choice

Which of the following is false?

• A)Keynes believed that the economy was basically unstable.
• B)The classical economists believed that full employment was a "rare occurrence."
• C)Keynes argued that the expected rate of profit was the most important factor in determining the level of investment demand in an economy.
• D)The classical economists used the laws of supply and demand to prove the validity of Say's Law.

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Definitions:

Total Revenue

The total income generated by a firm from the sale of its goods and services.

Price Elasticity

An index that measures the reaction of how much a good is wanted to a price adjustment of that good.

Midpoint Formula

A mathematical formula used to calculate the average or midpoint between two values on a line segment.

Total Revenue

The total receipts from sales of goods and services to customers; it is the unit price times the quantity of goods or services sold.