Asked by Shawn Killens on Jun 20, 2024
Verified
All of the following schools of economics advocate small government in all circumstances as the best policy,except
A) Keynesian.
B) Classical.
C) Monetarists.
D) Supply Side economics.
Keynesian
Relating to the economic theories of John Maynard Keynes, advocating for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of depression.
Classical
Pertains to the classical school of economic thought, focusing on free markets and the self-regulating nature of economies, emphasizing the roles of competition and supply and demand.
Monetarists
Monetarists are economists who believe that variations in the money supply have major influences on national output in the short run and the price level over longer periods.
- Evaluate the contrasting viewpoints of different economic theories regarding the government's influence on economic practices.
Verified Answer
Learning Objectives
- Evaluate the contrasting viewpoints of different economic theories regarding the government's influence on economic practices.
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