Functional Finance

question 42

Multiple Choice

Functional finance:

• A)is based on empirical evidence that fiscal policy can be effective in smoothing business cycles.
• B)is based on the political realities of voters wanting their government to respond to recessions.
• C)is a theoretical proposition, not a moral proposition.
• D)is a proposition supported by public choice economists.

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Definitions:

Ladder Rung

A single line of logic in a ladder diagram that equates to a control circuit, usually comprised of inputs and outputs represented by symbols.

Relay Coil

A component in electrical and electronic engineering that produces a magnetic field when electric current flows through it, typically used to control a circuit by opening or closing connections in another circuit.

Time Delay

A predetermined period before an action takes place in a circuit or system, often used for timing control in automation.

Bit Level Addressing

A method of accessing or manipulating individual bits within a data structure, allowing for more precise control and efficiency in programming.