Which of the Following Explains Why Keynesian Economics Lost Influence

question 116

Multiple Choice

Which of the following explains why Keynesian economics lost influence in the 1970s?

• A)A change in the how the Federal Reserve was constructed
• B)A crash in the stock market
• C)The damaging effects of inflation
• D)An increase in the marginal tax rate

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Definitions:

Blinding

A method used in experiments to eliminate bias, where participants or researchers (or both) are unaware of certain key aspects of the study.

Incentive

A form of motivation or stimulus that encourages a person to perform or act in a certain way, often used in economics, business, and psychology.

Blocking Variable

A variable that groups experimental units in a way that reduces the effects of variability on the outcome, enhancing the experiment’s accuracy.

Supermarket Chains

Large retail organizations consisting of multiple supermarket locations, offering a wide variety of food and household products.