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How does Keynesian economics relate to fiscal policy?
Keynesian economics emphasizes the role of government intervention in stabilizing the economy, particularly through fiscal policy. It advocates for increased government spending and tax cuts during economic downturns to boost demand and spur growth. By adjusting fiscal policy, governments can influence aggregate demand, thereby mitigating recessions and reducing unemployment. This approach contrasts with classical economics, which favors less government intervention in market forces.
What would an economist who favors smaller government recommended during a recession and inflation?
An economist who favors smaller government during a recession and inflation would likely recommend reducing government spending and lowering taxes to stimulate private sector investment and consumption. They might argue that cutting spending would help reduce inflationary pressures in the long term, while tax reductions could provide immediate relief to individuals and businesses. Additionally, they may advocate for deregulation to encourage economic growth and efficiency. Overall, the focus would be on market-driven solutions rather than increased government intervention.
Which economic system favors decisions by consumers?
mixed capitalism
What statement describes the theory of mercantilism?
The theory of mercantilism is described best as England giving economic favors. these favors were given to some companies and people but not others.
Which economic system favors decisions by consumers but allows for some central planning?
Mixed Capitalism
Why did hoovers policies fail?
Hoover did not have any support from the Bank. Moreover he tried to overcome economic recession with government intervention which did not gain him any favors among the people.
In what way are Republican and Democratic parties different?
In general, the Democratic Party favors more government intervention and is more liberal regarding social issues. The Republican Party is more conservative regarding social issues and favors less government intervention.
What group is on the extreme left of the political spectrum and favors strong government intervention in the economy?
Radicals are on the extreme left of the political spectrum.
How does Keynesian economics relate to fiscal policy?
Keynesian economics emphasizes the role of government intervention in stabilizing the economy, particularly through fiscal policy. It advocates for increased government spending and tax cuts during economic downturns to boost demand and spur growth. By adjusting fiscal policy, governments can influence aggregate demand, thereby mitigating recessions and reducing unemployment. This approach contrasts with classical economics, which favors less government intervention in market forces.
What type of American ideology favors active government as an instrument of economic redistribution but reject the notion that government should favor a particular set of social values?
Socialism.
What word describes a philosophy that favors government action?
The word that describes a philosophy favoring government action is "statism." It is the belief that the state should have extensive control and authority over economic and social matters.
What would an economist who favors smaller government recommended during a recession and inflation?
An economist who favors smaller government during a recession and inflation would likely recommend reducing government spending and lowering taxes to stimulate private sector investment and consumption. They might argue that cutting spending would help reduce inflationary pressures in the long term, while tax reductions could provide immediate relief to individuals and businesses. Additionally, they may advocate for deregulation to encourage economic growth and efficiency. Overall, the focus would be on market-driven solutions rather than increased government intervention.
Which economic system favors decisions by consumers?
mixed capitalism
What is a system that favors wealthy landowners?
the american government
What statement describes the theory of mercantilism?
The theory of mercantilism is described best as England giving economic favors. these favors were given to some companies and people but not others.
What ideology favors self-governing communities over organized government?
The ideology that favors self-governing communities over organized government is known as anarchism. Anarchists advocate for a society where individuals or groups manage their own affairs without centralized authority, emphasizing voluntary cooperation and mutual aid. They believe that hierarchies and state structures often lead to oppression and inequality, and instead promote decentralized, grassroots decision-making.
An individual who believes that government is best which governs not at all favors?
anarchy
