In 2009, the Obama Administration Advocated and Congress Passed a Massive

question 20

Multiple Choice

In 2009, the Obama administration advocated and Congress passed a massive spending and tax relief package of about $800 billion to stimulate aggregate demand. This policy would be favored by

• A) Keynesian economists but not new Keynesian economists.
• B) monetarists but not new classical economists.
• C) Keynesian and new Keynesian economists.
• D) monetarists and new Keynesian economists.

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Definitions:

Information

A written accusation of crime brought by a public prosecuting officer to a court without the intervention of a grand jury.

Voidable Contract

A legally enforceable agreement that may be declared void at the option of one of the parties due to certain defects or circumstances.

Executory

Not yet executed; not yet fully performed, completed, fulfilled, or carried out; to be performed wholly or in part.

Express Contract

A contract in which terms are explicitly stated and agreed upon by the parties, either orally or in writing.