In the Keynesian Model, When Is the Economy in Short-Run

question 123

Multiple Choice

In the Keynesian model, when is the economy in short-run equilibrium?

• A) when there is no inflation
• B) when there is full employment
• C) when there is a balanced federal budget
• D) when total spending (demand) is equal to production (supply)

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Definitions:

Older Workers

refers to employees typically considered to be near or beyond the traditional age of retirement, who bring experience and knowledge to the workplace.

Demographic Group

A segment of the population defined by specific characteristics such as age, gender, income, or ethnicity, used for statistical and marketing analysis.

Individual Abilities

The natural talents or developed skills possessed by an individual that enable performance in certain activities or tasks.

Female-Owned

Referring to businesses or enterprises that are owned and operated by women.