0
What else can I help you with?
Who was the British economist who believed that govement that deficit spending in a recession could help the economy recover?
Keynesian theory
Who was the economist who believed that massive government spending programs could revive a failing economy?
There are many economists who have argued this, but the most major one is arguably John Maynard Keynes.
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.
Explain why tax revenue changes when the economy goes into a recession?
Tax revenue changes when the economy goes into a recession. When there is a recession, the government increases tax revenue. The government does this because less people are spending money.
HOW Does the government typically change fiscal policy to try to improve the us economy during a recession?
Normally in a recession the government would want to raise the equilibrium level of income. This can be done in one of two ways: by increasing government spending or by decreasing taxes.
Who was the British economist who believed that govement that deficit spending in a recession could help the economy recover?
Keynesian theory
Do Keynesian economist believe that the economy is self regulating?
No, they regulate the economy by doing 2 things: 1)increasing government spending and decrease taxes to fight recession 2) decrease government spending and increase taxes to fight inflation.
What disaster was reversed by government spending on public works?
Roosevelt Recession
Who was the economist who believed that massive government spending programs could revive a failing economy?
There are many economists who have argued this, but the most major one is arguably John Maynard Keynes.
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.
Explain why tax revenue changes when the economy goes into a recession?
Tax revenue changes when the economy goes into a recession. When there is a recession, the government increases tax revenue. The government does this because less people are spending money.
What was a 1937-1938 disaster that was reversed by a flood of government spending on public works programs?
Roosevelt Recession
He quit his government job over the Treaty of Versailles and later concluded that government spending can cure recessions Who was this celebrity economist?
Your Answer: John Maynard Keynes Correct
HOW Does the government typically change fiscal policy to try to improve the us economy during a recession?
Normally in a recession the government would want to raise the equilibrium level of income. This can be done in one of two ways: by increasing government spending or by decreasing taxes.
What actions would a modern Keynesian economist advocate to cure a recessionary gap?
a Keynesian would argue that the essence to solve recession lies with demand management. When an economy is experiencing a boom (inflationary gap), government should tax people, reduce spending ...etc... to soak up the demand. When an economy is experiencing a bust (recessionary gap), government should decrease tax and increase government spending (using money they gained during the boom) to increase the demand of an economy.
What view of economics advocates massive public spending during a depression or recession?
I believe that would be Keynesianism. John Maynard believed the government should "prime the economic pump" by creating multiple jobs and public work projects for citizens during times of recession, even if it meant running up the national debt.
Which combination of fiscal policy actions would be most stimulative for an economy in a deep recession?
decrease taxes and increase government spending
