Regarding fiscal policy, the new classical economists
a. are in favor of stability.
b. attempt to avoid excessive and inflationary stimulus.
c. want to avoid erratic government deficit spending.
d. All of the above
e. None of the above
D
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Minimum wage laws cause unemployment because the legal minimum wage is set
A) below the market wage, causing labor demand to be greater than labor supply. B) too low. C) above the market wage, causing labor demand to be greater than labor supply. D) below the market wage, causing labor demand to be less than labor supply. E) above the market wage, causing labor demand to be less than labor supply.
Economic expansion and growth are the only objectives that U.S. policymakers consider when they implement tax, spending and financial policies that affect the U.S. economy.
Answer the following statement true (T) or false (F)