The prevailing budget philosophy prior to Keynes called for a balanced budget. Keynes argued that the government should not balance its budget but instead have budget deficits during
a. economic booms.
b. during periods of peace but surpluses during periods of war.
c. periods of inflation.
d. economic recessions.
D
Economics
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A philosophy based on the belief that democratic means should be used to distribute wealth evenly throughout a society
a. free enterprise b. traditional economy c. incentive d. safety net e. socialism
Economics
A creative response to regulations can be described as
A) conforming to the letter of the law but undermining its spirit. B) totally conforming to the law. C) completely ignoring the law. D) none of the above.
Economics