In the 1930s, John Maynard Keynes said that our main economic problem was
A. weak aggregate demand.
B. too much government spending.
C. big budget deficits.
D. high interest rates.
E. that taxes were too low.
A. weak aggregate demand.
You might also like to view...
According to the text, approximately what percentage of U.S. net public debt is held by foreign residents?
A) 50% B) 20% C) 90% D) 800%
A market failure is a situation in which
A) resources are being efficiently allocated, but some companies are forced to shut down. B) the market equilibrium leads to either too many or too few resources going towards producing the good or service. C) the government must take actions to correct the failures of the market in a particular industry. D) there is no free entry or exit into an industry.
Which of the following is true of Carter administration?
a. Dramatic expansion of Social Security and Medicare programs b. Large income tax cuts, especially for the wealthy c. Deregulation of airlines, trucking, railroads and the financial services industry d. Government control of gasoline and food prices
When goods are available free of charge, the market forces that normally allocate resources in our economy are absent
a. True b. False Indicate whether the statement is true or false