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Economics
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Keynesian economics promotes economic ideas:
a. that the government can help a depressed economy via fiscal and monetary policies
b. that the private sector is perfectly capable to regulate itself
c. that the free market system will always prevail

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Sonal Bahl
Sonal BahlLv10
19 Jan 2021

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Related questions

Keynesian economics:
a. relies on the idea that free markets can regulate themselves.
b. requires a balanced budget for optimum efficiency.
c. encourages the increased role of government to achieve full employment and economic growth.
d. advocates supply-side economics.
Which of these statements is a fundamental part of Keynesian economics?
a. The federal government should have a balanced budget every year to protect economic growth.
b. The government should reduce taxes to promote economic growth by increasing aggregate supply.
c. The government can use deficit spending to increase aggregate demand and pull the economy out of recession.
d. The economy will only reach equilibrium and prosperity through the self-regulation of the free market.

 

 Macroeconomics: Events and Ideas

a) The economy is under inflationary pressure. The head of the President's Council of Economic Advisers is a staunch Keynesian. Will this Keynesian recommend or not recommend? Explain.

b) Prior to the 1930s, classical economics was the predominant theory about the behavior of the aggregate price level, aggregate output, and the appropriate role of monetary policy. Describe how classical economists believed the economy would be affected by an increase in the money supply.

c) Explain the rational expectations theory and how it predicts the usefulness of fiscal and monetary policy.

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