In the Keynesian Cross Depicted Below,which of the Following Is

question 68

Multiple Choice

In the Keynesian cross depicted below,which of the following is NOT true?

• A) The economy's potential output equals 1,000.
• B) The economy's actual short-run equilibrium output equals 850.
• C) The economy is in recession with a recessionary output gap of 150.
• D) The economy has an expansionary output gap of 150.
• E) The real interest rate facing the public equals 5%.

Understand the diverse views of classical theorists on the definition and characteristics of modernity.

Identify the role of capitalism, industrialism, surveillance, and control of means of violence as modern institutions described by Anthony Giddens.

Recognize the process of disembedding and reflexivity as key modern dynamics.

Analyze the positive and negative implications of modernity as perceived by classical and contemporary theorists.