History of Fiscal Policy Fill in the Blanks?

The ______school of economic thought, believed that full employment was inherent in the economy. They favored only a ____role for the government in the economy, and their belief was that supply decisions were equal to the demand decisions. The belief was that the economy could adjust to any fluctuations because ____ were flexible.

This theory was undermined by the ____________ and Keynesian Economics. He believed that prices and wages were “_______”. He believed that ________ should play a significant role in regulating the economy, and spending. The government was given more responsibility in running the economy under the _________________ Act of 1946.

Kennedy was a firm believer in using higher ___________ to stimulate the economy. Fiscal policy (using demand management)was rendered ineffective in part due to___________. Reagan felt that supply-side economics was the answer to expanding the economy, and he was in favor of cutting__

Answer:
Hackett
Minimal
we
democrats
low
democrats
social security
taxes
politics
taxes
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