The Basic Keynesian Model Assumes That,in the _______,The Economy's Potential

question 140

Multiple Choice

The basic Keynesian model assumes that,in the _______,the economy's potential output is ________.Potential output depends only on available resources (labour force,capital stock,and the state of technology) which change little in the ________.

• A) short run;constant;long run
• B) short run;variable;short run
• C) long run;constant;short run
• D) short run;constant;short run
• E) short run;variable;long run

---

Definitions:

Owner Withdraws

Transactions where the owner of a sole proprietorship takes out cash or other assets from the business for personal use.

General Journal

A comprehensive record where all financial transactions of a business are originally entered before being transferred to specific accounts in the general ledger.

Cash Payments Journal

A financial journal that records all cash payments or outflows of a business.

Sales Journal

A specialized accounting journal used to record all sales transactions of a business.