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AS/AD KEYNES/CLASSICAL Flashcards | StudBud
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AS/AD KEYNES/CLASSICAL
AS/AD KEYNES/CLASSICAL
15 terms
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StudBud Administration
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Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Keynes says to steer economy use Taxes & Gov Spending
True
False
2
Shifts in AS Include
Consumer Confidence
De Regulation
Government Spending
Input Prices
3
Classical Economics
Aggregate Supply
Long term
Short term
Aggregate Demand
4
Says law states Demand Creates Supply
False
True
5
People getting hired but wages not going up is sticky wages
False
True
6
Keynes and GDP Where C is
Government Spending
Disposable income
Foreign Demand
Wealth Effect
7
Keynes is about
Closing recessionary gaps
Closing inflationary gaps
Supply creates demand
Long term asjustments
8
Classical Economist
Keynes causes Bubbles
Increase Aggregate Demand
Price levels will fix economy
Increase Demand
9
Why Recession Occur?
I'm employed
AS> AD
Demand < Output
I'm unemployed
10
Keynes and Investment part GDP
Disposable Income
Interest Rates
Consumer Demand
Wealth Effect
11
Keynes law is All about Aggregate Supply
False
True
12
Price of US goods down Foreign purchase increase
True
False
13
Keynes would rather have you Spend than Save
False
True
14
Classical Economist Want to
Increase taxes
Increase Human Capital
Increase Physical capital
Increase R&D for Technology
15
Keynes
Short term tweaking
Supply Side
Demand side
Short term twerking
