08 Jun Question 1. Keynes stated that the di
Question
1. Keynes stated that the difference between uncertainty and risk is that risk is:
a) not calculable b) calculable c) certain d) uncertain
2. For Keynes, separation of ownership and management makes investment more:
a) calculable b) measurable c) viable d) volatile
3. Savings is income not:
a) investment b) saved c) spent d) consumption
4. Savings is production not:
a) borrowed b) purchased c) lent d) produced
5. S = I is the macro equilibrium condition in:
a) neoclassical only b) Keynes only c) neoclassical and Keynes d) none
6. In neoclassical economics S => I through changes in:
a) investment b) interest rate c) savings d) income
7. In Keynes, I => S through changes in:
a) investment b) interest rate c) savings d) income
8. The paradox of thrift states that when the economy tries to save more:
a) economic growth increases b) investment increases
c) we spend less, output and income fall
d) none of the above
9. In Keynes, investment doesn’t require a pool of savings because:
a) government will pay b) banks provide finance c) S = I d) I = S
10. Keynes showed that the economy could be in macro equilibrium with:
a) persistent investment
b) persistent unemployment
c) persistent output d) persistent income
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