During the 1970s, demand-management policy:
a. continued to be highly successful in curing the economy's economic problems
b. was found to be highly unsuitable in periods of stagflation such as the decade of the 1970s.
c. was so unsuccessful that economists advised a return to the pre-World War II philosophy of fiscal policy.
d. was unsuccessful because automatic stabilizers no longer influenced the economy.
e. was unsuitable because it affected aggregate supply more than aggregate demand.
b
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People demand money for all of the following reasons EXCEPT
A) it generates a rate of return. B) it is a medium of exchange to make payments. C) it is a store of value. D) it can meet unplanned expenditures.
Consumers are often bewildered by the different array of choices, plans and prices that are offered by cell phone service companies
Explain in terms of consumer surplus why this makes sense from both the company's perspective and that of the consumer.
When every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it, ________ occurs
A) efficient central planning B) equity C) productive efficiency D) allocative efficiency
If a given unit of money is made of different commodities or different grades of commodity, then according to Gresham's Law, people trade away the best money and hoard inferior money
Indicate whether the statement is true or false