Determination of Income and Employment - Quiz
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1. What is the primary focus of the Keynesian theory of income determination?
Supply of money · Aggregate demand · Government intervention · Consumer preferences
2. In the context of income determination, what does 'aggregate supply' refer to?
Total output produced · Total income earned · Total consumption · Total investment
3. Which of the following is a component of aggregate demand?
Government spending · Wage rates · Interest rates · Taxation
4. What happens when aggregate demand exceeds aggregate supply?
Unemployment rises · Inflation occurs · Deflation occurs · Economic stability
5. In the short run, an increase in investment will lead to which of the following?
Decrease in income · Increase in employment · Decrease in aggregate demand · Increase in savings
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