Statement I: Fiscal policy was invented by John Maynard Keynes in the 1930s.
Statement II: Until the 1980s,virtually all economists thought that the federal government should balance its budget every year.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Correct Answer:
Verified
Q19: There is a recessionary gap when
A)equilibrium GDP
Q20: Fiscal policy deals with each of the
Q21: Which statement is true?
A)When there is a
Q22: Fiscal policy includes each of the following
Q23: Which statement is false?
A)Foreigners are holding an
Q25: Between fiscal years 2008 and 2010,our federal
Q26: Interest rates in the United States would
Q27: When there is an inflationary gap
A)we are
Q28: Large budget deficits tend to
A)raise interest rates.
B)lower
Q29: Since 1980,our national debt as a percentage
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