The national debt is

Refer to Figure 16.2. For the given Phillips curve, an increase in aggregate demand, ceteris paribus, could cause a

A basic conclusion of Keynesian analysis is that

If aggregate demand decreases and aggregate supply decreases, the level of real output will

Given the MPS = 0.40, with no government and no foreign trade, a $10 billion increase in investment will eventually result in an increase in

Time lags in the design, authorization, and implementation of fiscal policy reduce its effectiveness.

According to the classical view, if consumer demand slowed down,

In Figure 8.5, if equilibrium real output is Q1 and full-employment real output is Q2, an appropriate monetarist policy lever would be to increase

Dissaving occurs whenever

Increases in deficit spending may be accompanied by