During the 1970s,demand-Management Policy

question 124

Multiple Choice

During the 1970s,demand-management policy:

• A)continued to be highly successful in curing the economy's economic problems.
• B)was found to be highly unsuitable in periods of stagflation such as the decade of the 1970s.
• C)was so unsuccessful that economists advised a return to the pre-World War II philosophy of fiscal policy.
• D)was unsuccessful because automatic stabilizers no longer influenced the economy.
• E)was unsuitable because it affected aggregate supply more than aggregate demand.

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Definitions:

Ideological Arguments

Debates or discussions driven by deeply held beliefs or values, often relating to politics, morality, or ethics.

Faith

Strong belief or trust in something or someone, often without empirical evidence.

Conviction

A strongly held belief or opinion.

Ideological Reasoning

Forming conclusions based strictly on a predefined set of doctrines or political beliefs.