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Keynesian economics: Quiz


Question 1: Irrelevance of Taxes and Budget Deficits to Consumption (________)
Policy Ineffectiveness PropositionRobert BarroPublic financeRicardian equivalence

Question 2: ________ counter that because both parties consent, free trade increases net happiness, but government imposes its will by force, decreasing happiness.
LibertarianismAnarcho-capitalismIndividualist anarchismRobert Nozick

Question 3: Both conservative and some neoliberal economists question this assumption, unless labor unions or the government "meddle" in the ________, creating persistent supply-side or classical unemployment.
LibertarianismFriedrich von HayekAnarcho-capitalismFree market

Question 4: [citation needed] Keynesianism recommends counter-cyclical policies to smooth out fluctuations in the ________.
EconomicsKeynesian economicsBusiness cycleReal Business Cycle Theory

Question 5: These models have been developed into the ________, which argues that business cycle fluctuations can to a large extent be accounted for by real (in contrast to nominal) shocks.
New Keynesian economicsReal Business Cycle TheoryKeynesian economicsEconomics

Question 6: Works by John Maynard Keynes at ________
Amazon KindleGoogle BooksProject Gutenberg AustraliaProject Gutenberg

Question 7: Irrelevance of Current Profits to Investment (________)
StockModigliani-Miller theoremCapital structureDebt-to-equity ratio

Question 8: The latter opens the possibility of regulating the economy through money supply changes, via ________.
Federal Reserve SystemMonetary policyOpen market operationsCentral bank

Question 9: However, the advent of ________ in the 1990s, modified and provided microeconomic foundations for the neo-Keynesian theories.
Neo-Keynesian economicsNew Keynesian economicsMonetary economicsMacroeconomics

Question 10: This ________ meant that the simultaneous application of expansionary (anti-recession) and contractionary (anti-inflation) policies appeared to be necessary, a clear impossibility.
John Maynard KeynesStagflationKeynesian economicsEconomics


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