"Fine-tuning" the economy(a) Has worked to keep the economy stable ever since we discovered Keynesian policy(b) Is difficult to accomplish with discretionary macroeconomic policy because the time lags involved in economists recognizing the economy changed direction, policy makers devising and implementing appropriate policies, and the policies impacting the economy are longer than the average recession.(c) Might work better were we to strengthen and enact more automatic stabilizers.(d) All the above(e) (b) and (c) are correct QUESTION 47"Fine-tuning" the economyO (a) Has worked to keep the economy stable ever since we discovered Keynesian policy.(b) Is difficult to accomplish with discretionary macroeconomic policy because the time lags involved in economists recognizing the economy changed direction, policy makers devising andO implementing appropriate policies, and the policies impacting the economy are longer than the average recession.O (c) Might work better were we to strengthen and enact more automatic stabilizers.O (d) All the aboveO (e) (b) and (c) are correct

We know that Keynes was against the classical and their ideology. They support government…

"Fine-tuning" the economy (a) Has worked to keep the economy stable ever since we discovered Keynesian policy (b) Is difficult to accomplish with discretionary macroeconomic policy because the time lags involved in economists recognizing the economy changed direction, policy makers devising and implementing appropriate policies, and the policies impacting the economy are longer than the average recession. (c) Might work better were we to strengthen and enact more automatic stabilizers. (d) All the above (e) (b) and (c) are correct

"Fine-tuning" the economy (a) Has worked to keep the economy stable ever since we discovered Keynesian policy (b) Is difficult to accomplish with discretionary macroeconomic policy because the time lags involved in economists recognizing the economy changed direction, policy makers devising and implementing appropriate policies, and the policies impacting the economy are longer than the average recession. (c) Might work better were we to strengthen and enact more automatic stabilizers. (d) All the above (e) (b) and (c) are correct

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter25: The Keynesian Perspective

Section: Chapter Questions

Problem 16RQ: How did the Keynesian perspective address the economic market failure of the Great Depression?

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How did the Keynesian perspective address the economic market failure of the Great Depression?
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