As a Global Recession Began in Late 2008, the Governments

question 100

Multiple Choice

As a global recession began in late 2008, the governments of all major economies searched for policy responses to dampen the effects of the recession. In general, governments were aiming to

• A)shift the AD curve to the left by decreasing tax rates.
• B)shift the AD curve to the right through large increases in government spending.
• C)increase potential GDP.
• D)shift the AS curve to the right through large increases in government spending.
• E)shift the AS curve to the left by increasing wage rates.

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Definitions:

Utilitarianism

An ethical theory that advocates for actions that maximize happiness or benefit for the greatest number of people.

Distributive Justice

The perceived fairness of how resources and rewards are distributed within an organization.

High Power Distance

A cultural dimension that signifies a society's acceptance of inequality and hierarchy in authority and power distribution among its members.

Nurturing Orientation

A focus on support, encouragement, and growth of individuals within an organization, emphasizing the development of potential.