Now I trun to Keynesain economics, one of the more difficult branches of economic theory. I begin with a troublesome question: 1. If prices are inflexible, an increase in the wage rates paid by one firm will not lead to dismiss employees. (Answer: T)*6 The key to this question is that the wage rise only for one firm. Hence this firm hires kinds of labors that no other firm hires (unless it is being discriminated against, cruelly). If it did fire any workers, where could they go? The enterpreneur is a decent chap. Lesson 6: Not Every Enterpreneur Is Greedy. Of course, some Keynesian economics is very simple. For example: 1. If investment rise from forty to forty-five and then remains steady at forty-five, the national income will rise very rapidly and then rise at a slow rate. (Answer:F)*7 This is very easy, and indeed I put it in merely as a brether before the next question. Since it requires eighty-seven years and three months for investment to rise from forty just to forty-one, why should the national income rise very rapidly? Lesson 7: Read and Write Carefully *6: Ibid., p.124. *7: Ibid., p.98. --

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