The Stimulus Package of 2009 Was Widely Accepted by Economists

question 71

True/False

The stimulus package of 2009 was widely accepted by economists as an appropriate response to the crisis at hand. Supporters of the plan included fiscally conservative economists Robert Barro and Eugene Fama.

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Definitions:

Market Failure

A situation in which a market left on its own fails to allocate resources efficiently, often justifying government intervention.

Nutrition Labeling

Information provided on food packaging that details the nutrient content, such as calories, fats, vitamins, and minerals.

Externality

An economic term referring to a cost or benefit that affects a party who did not choose to incur that cost or benefit, often leading to market failure.

External

Pertaining to elements or influences originating outside a system or entity.