Suppose the economy is experiencing a recession with high unemployment. With a goal of increasing GDP back to the full employment level: 1. what would a liberal economist suggest policy makers do as the correct course of action? (think of those that may align their thinking to that of Keynes) 2. what would a conservative economist suggest policy makers do as the correct course of action? (think of those that may align their thinking to that of Say)
Suppose the economy is experiencing a recession with high unemployment. With a goal of increasing GDP back to the full employment level: 1. what would a liberal economist suggest policy makers do as the correct course of action? (think of those that may align their thinking to that of Keynes) 2. what would a conservative economist suggest policy makers do as the correct course of action? (think of those that may align their thinking to that of Say)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose the economy is experiencing a recession with high
1. what would a liberal economist suggest policy makers do as the correct course of action? (think of those that may align their thinking to that of Keynes)
2. what would a conservative economist suggest policy makers do as the correct course of action? (think of those that may align their thinking to that of Say)
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