Challenges to Keynesian Economics Were Based on The

question 134

Multiple Choice

Challenges to Keynesian economics were based on the:

• A) fact that lags in fiscal policy make it relatively ineffective.
• B) liquidity trap, which makes fiscal policy ineffective.
• C) possibility of a trade-off between inflation and unemployment.
• D) usefulness of discretionary fiscal policy.

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Definitions:

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.

Socialization Process

The process by which individuals learn the values, norms, and required behaviors which permit them to participate as members of a society or organization.

Organizational Culture

Organizational culture comprises the values, beliefs, behaviors, and artifacts that contribute to the unique social and psychological environment of an organization.

Ethics Component

The ethics component involves the principles or standards governing the conduct of a person or members of a profession, emphasizing moral obligations and decisions.