Asked by Lavkush Tamrakar on May 21, 2024
Verified
Which of the following schools of economic thought would be against balancing the budget during a recession?
A) The classical school
B) Keynesians
C) Monetarists
D) Supply side economics
E) Rational expectationists
Keynesians
Followers and theorists of Keynesian economics, which emphasizes the need for government intervention in economies to manage output and demand through fiscal and monetary policies.
Classical School
A school of economic thought that emphasizes the importance of free markets, competition, and the self-regulating nature of economies.
Monetarists
Economists convinced that fluctuations in the money supply play a crucial role in influencing short-term national output and affect price levels over the long term.
- Analyze the differences among multiple economic frameworks and their views on governmental participation in economic matters.
- Comprehend the impact of fiscal and monetary policies on recession and inflation.
Verified Answer
Learning Objectives
- Analyze the differences among multiple economic frameworks and their views on governmental participation in economic matters.
- Comprehend the impact of fiscal and monetary policies on recession and inflation.
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