Asked by Yakelin Zamora on May 26, 2024
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Keynes believed that the best method for tackling recessions was to reduce government spending and raise taxes,thereby reducing the federal budget deficit.
Keynes
An economist who advocated for government intervention in markets to mitigate the adverse effects of economic recessions and depressions through fiscal and monetary policies.
Government Spending
Expenditures made by the public sector on goods and services such as healthcare, education, and defense, which can impact the country's economy.
Federal Budget Deficit
The shortfall where the federal government's expenditures exceed its revenues in a given fiscal year.
- Identify the distinctions between Keynesian economics and supply-side economics in managing economic concerns.
- Examine the impact that fiscal and monetary policies have on inflation, unemployment figures, and the total economic landscape.
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Learning Objectives
- Identify the distinctions between Keynesian economics and supply-side economics in managing economic concerns.
- Examine the impact that fiscal and monetary policies have on inflation, unemployment figures, and the total economic landscape.
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