The U.S.economy in the 1960s was dominated by a massively expansionary ________ policy that ended up ________.
A) monetary,overstimulating the economy
B) monetary,being impotent in ending the long stagnation of that decade
C) fiscal,overstimulating the economy
D) fiscal,being impotent in ending the long stagnation of that decade
Correct Answer:
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Q1: In the late 1960s,the Friedman-Phelps "natural rate
Q2: The "stagflation" of the 1970s _ Keynesian
Q4: The Keynesian revolution was based on the
Q5: The tax cuts and entitlement program expansions
Q6: Most Keynesian macroeconomists today _ the natural
Q7: An important failure of the "new economics"
Q8: The work of Robert Lucas and Thomas
Q9: The Great Depression of the 1930s opened
Q10: The evolution of macroeconomic theory
A)usually precedes and
Q11: The great failure of activist fiscal policy
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