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. determinates of total supply for the economy will be traded-off
B. trade-offs and connections may differ in the short run and the long run
C. the economy will face genuine limits to how much can be produced
D. institutional and market structures will connect factors of production
Answer:B
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. determinates of total supply for the economy will be traded-off B. trade-offs and connections may differ in the short run and the long run C. the economy will face genuine limits to how much can be produced D. institutional and market structures will connect factors of production
Explanation: Type: Multiple Choice