Multiple..CHOICE!!?
A – every other year.
B – by Congress and the White House.
C – to report to Congress on the preceding year’s expenditures.
D – in order to reimburse state governments for costs of federally funded programs.
2 – In contrast with classical economics, Keynesian economics:
A – reduces the role of government.
B – takes a broader view of the economy.
C – relies more heavily on the laws of supply and demand.
D – more strongly emphasizes the importance of individual businesses to the overall health of the economy.
3 – Keynesian economics failed to deal successfully with:
A – World War II.
B – the Great Depression.
C – high inflation during the 1970s.
D – low unemployment rates during the 1960s.
Thank you so MUCH!
Answer:
1 B. This is a no brainer. It just wants to know how federal governments set their budgets.
2 B ... A C D are all Laissez Faire principles. B means that the economy derives a benefit from social spending. It means deficits are acceptable if the alternatives impair social advancements.
3 C Social programs accounted for an unusually high percentage of the economy. This led to the need for governments to print money to make up the deficit. And it led to a deepening cycle of inflation.
1.B.
2.C maybe
3. no clue. I hate macro
1-? i don't understand this question
2-B
3-C
1) B
2) D
3) B
I think.
2. maybe B. but more correctly put: seeks to encourage & ligitimize active government participation in shaping economic outcomes. keynes was a collectivst.
3. either A or B. this is a tricky one i think.
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