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Market clearing: Quiz

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Question 1: But the ________ of the 1930s caused many economists, including John Maynard Keynes, to doubt their classical faith.
United StatesGreat DepressionRepublican Party (United States)Federal Reserve System

Question 2: That is, there may be path dependence, as when a long depression changes the nature of the "________" period that follows.
Keynesian economicsInflationUnemploymentFull employment

Question 3: In ________, market clearing refers to either
Keynesian economicsMoneyEconomicsHeterodox economics

Question 4: If markets were supposed to clear, how could ruinously high rates of ________ persist for so many painful years?
Discouraged workerUnderemploymentUnemploymentGap year

Question 5: a simplifying assumption made by the new classical school that ________ always go to where the quantity supplied equals the quantity demanded; or
MoneyFinancial economicsEconomic historyMarket

Question 6: In another interpretation, price adjustment could make matters worse, causing what ________ called "debt deflation".
Austrian SchoolIrving FisherJohn Maynard KeynesNeoclassical economics







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