Critics of the Keynesian view of closing a recessionary gap argue that
a. Keynesians fail to appreciate the self-correcting nature of the economy
b. government spending is virtually cost-free because resources are unemployed
c. deficit financing places no burden on the economy
d. public works programs never continue beyond their usefulness
e. deficits are always needed to stimulate the economy
A
You might also like to view...
In the early 1970s, the U.S. ran large balance of payments ________, causing an ________ dollar and an ________ German mark
A) deficits; undervalued; overvalued B) deficits; overvalued; undervalued C) surpluses; undervalued; overvalued D) surpluses; overvalued; undervalued
The price of a smartphone increased from $350 to $400 while the price of a smartphone app increased from $1 to $2. The relative price of smartphones in terms of smartphone apps
A) increased from 200 to 350. B) decreased from 350 to 200. C) increased from 0.003 to 0.05. D) decreased from 0.35 to 0.2.