In the 1970s,Keynes's Theory Was Criticized Because It

question 152

Multiple Choice

In the 1970s,Keynes's theory was criticized because it

• A)did not discuss the role of aggregate demand.
• B)ignored fiscal policy.
• C)overly stressed a laissez-faire economy.
• D)did not deal with inflation.
• E)was too preoccupied with economic growth.

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Definitions:

Adjusted Gross Income

The measure of one's taxable income, calculated as gross income minus allowable adjustments.

Deductible Contribution

A contribution to a qualified plan or account that is eligible to be deducted from the contributor's gross income for tax purposes.

Nonprofit Cemetery

A burial ground operated by an organization that does not seek to make a profit, often eligible for certain tax exemptions.

Schedule A

The section of the tax form 1040 used by taxpayers to itemize deductions.