The "New Deal" programs of the 1930s aimed at
(a) transforming American capitalism into a planned socialist economy.
(b) introducing short-term measures to cure the depression but no fundamental changes in the American economy.
(c) introducing measures to deal with the crises and cure the depression combined with measures to restructure important aspects of the economy and increase the role of government in it.
(d) reintroducing laissez-faire policies (non-government intervention) like those that had worked in the 19th century.
(c)
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A firm needs to maximize the value to all of its
A) managers. B) employees. C) suppliers. D) stakeholders.
Why is the time lag for making fiscal policy changes longer than for making monetary policy changes?
A sales tax is an example of an excise tax
Indicate whether the statement is true or false
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources
a. only if buyers and sellers really care, personally, about economic efficiency. b. even if business firms fail to produce goods efficiently. c. if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely. d. even when market participants care only about their own self interests rather than about the overall efficiency of resource use.