Joan Robinson, the author of The Second Crisis of Economic Theory, argued that the content of fiscal policy is as important as its aggregate impact on the economy.
Answer the following statement true (T) or false (F)
True
The relative emphasis on, and sometimes exclusive concern for, stabilization objectives when using fiscal policy, to the neglect of related GDP content, has been designated by Joan Robinson as the 'second crisis of economic theory.'
Economics
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If real GDP is 100 in year 1, and grows at a rate of 3 percent per year for 9 years, what will the GDP be in 9 years?
What will be an ideal response?
Economics
All of the following would cause the aggregate demand curve to shift EXCEPT
A) a rise in real interest rates. B) an increase in taxes. C) improvements in economic conditions in other countries. D) a decrease in the price level.
Economics