With respect to the aggregate demand curve, improved consumer confidence would

When the Federal Reserve System buys bonds in the open market, the national debt

Keynes believed that a market-driven economy was inherently unstable.

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

The national debt is

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,