C719 Word Scramble
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| Question | Answer |
| Supply creates its own demand | Say's Law |
| Quantity Theory of Money | MV = PY |
| When there is a recession, which view says the government should not intervene? | Classical |
| When there is a recession, which view says the government should increase spending? | Keynesian |
| According to Keynes, recessions are caused by unstable ________________ spending. | Investment |
| The Stock Market crash of 1929 marked the beginning of the... | Great Depression |
| New spending is magnified in GDP due to the... | Expenditure Multiplier |
| The equation for the expenditure multiplier is... | 1/(1 - MPC) |
| MPC stands for... | Marginal propensity to consume |
| When the MPC is 0.5, the expenditure multiplier is... | 2 |
| When the MPC is 0.75, the expenditure multiplier is... | 4 |
| Why is aggregate supply upward sloping in the short-run? | Sticky prices |
| Long-term contracts are an example of... | Sticky prices |
| Why is aggregate supply vertical in the long-run? | Self-correcting markets |
Created by:
chawk69
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