Keynesians believe in
a. active management of structural deficits an minimal cyclical deficits.
b. running structural budget deficits to stimulate output
c. running large surpluses during expansions.
d. active management of cyclical deficits and minimal structural deficits.
e. both c and d.
E
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Thrift institutions importance as a source of funds for borrowers
A) has shrunk from around 40 percent of total credit advanced in the late 1970s to below 30 percent by 2014. B) has shrunk from over 20 percent of total credit advanced in the late 1970s to around 3 percent by 2014. C) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 25 percent by 2014. D) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 30 percent by 2014.
The weight of empirical evidence suggests that in the United States, the real wage rate is
A) acyclical. B) bicyclical. C) procyclical. D) countercyclical.