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il63 [147K]
3 years ago
9

If Keynes’ law applies during economic contractions and Say’s law applies during economic expansion, how will the three goals of

macroeconomics be affected?
a) trade-offs and connections may differ in the short run and the long run
b) the economy will face genuine limits to how much can be produced
c) determinates of total supply for the economy will be traded-off
d) institutional and market structures will connect factors of production
Business
1 answer:
Lelu [443]3 years ago
8 0

Answer:

Answer is option a, i.e. trade-offs and connections may differ in short run and the long run.

Explanation:

Keynes' law in economics and Say's law in economics are contradictory in their perspective. Where Keynes' law says that it is the demand that creates the supply, on the other hand, Say's law states that its the supply that tends to create the demand. But, we cannot neglect any of the above facts as demand and supply cant operate independently. So, on combining the two laws, we happen to take both the given laws into account. Also, it is found that Keynes' law is more appropriate and accurate for the short-run whereas, Say's law is for the long run. This thus creates trade-offs and connections that differ in the short-run and long-run by affecting the three important goals of macroeconomics, i.e. higher standard of living, low inflation, and low unemployment.

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Other things the same, during recessions taxes tend to Select one: a. rise. The rise in taxes contracts aggregate demand. b. fal
Hunter-Best [27]

Answer:

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Explanation:

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6 0
4 years ago
Macroland, currency held by the public is 2,000 econs, bank reserves are 300 econs, and the required reserve/deposit ratio is 10
I am Lyosha [343]

Answer:

D)5,000; 7,000

Explanation:

Public is holding 2000 econs and banks reserves are 300 econs. It is mentioned that reserve requirement is 10%.

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3 years ago
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Romashka [77]

Answer:

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Explanation:

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