Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506756
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 11, Problem 12CQ
To determine
Keynesian view on federal budget.
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According to Keynesian economics, what impact would a balanced budget amendment to the constitution requiring the federal government to balance its budget annually have on the economy?
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Macroeconomics: Private and Public Choice (MindTap Course List)
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- Contrast the appropriate Keynesian response to an economy experiencing recession with the appropriate Keynesian response to an economy experiencing inflationary pressures. What are the practical problems with government being able to implement these policies?arrow_forwardWhat might be some Keynesian prescriptions to get the economy out of an economic slump (both fiscal and monetary)?arrow_forward
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