Which of the following contributed to the weak recovery from the 2008-2009 recession?
a. The restrictive monetary policy followed by the Fed.
b. Government spending was increased by only a small amount.
c. The temporary nature of the tax rebates and spending increases created uncertainty and exerted only a weak impact on aggregate demand.
d. The budget deficits were too small to exert much impact on aggregate demand, output, and employment.
C
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The Board of Governors:
A. are experts in banking, finance, and monetary policy. B. are appointed by the U.S. president and confirmed by the Senate to 14 year terms. C. Both these are true. D. Neither of these are true.
Game theory is not useful for analyzing perfectly competitive markets.
Answer the following statement true (T) or false (F)
Say's law, flexible wages and prices, and the quantity of money were all basic tenets of the _____ school of economics.
A. classical B. supply-side C. Keynesian D. economic behaviorists
Which of the following is NOT true of the European Union
A. The EU promoted freer trade between member countries B. The EU allows members to benefit from economies of scale in selling to a larger market C. The EU provides a common currency for a subset of its members D. The EU was established in 1999