True, false, explain.
a. In the Keynesian model, the equilibrium level of output is always equal to the full-employment level of output.
b. In the Keynesian cross diagram, an increase in the marginal propensity to consume (MPC) will decrease the equilibrium level of output.
c. In the Keynesian model, if firms are experiencing an unplanned increase in their inventory level production will be decreasing.
d. In the Keynesian cross diagram, an increase in government spending G will shift the planned expenditure line down and decrease the equilibrium level of output.
e. In the Keynesian model, the economy is in equilibrium when the actual inventory level is smaller than the level firms were planning to hold.
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