Which of the Combinations Below Is Not a U

question 31

Multiple Choice

Which of the combinations below is not a U.S. President and an important economic issue of his administration?

• A)President Carter-inflation President
• B)Reagan-budget deficits President
• C)G.H.W. Bush-budget deficits President
• D)Clinton-inflation

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Definitions:

Keynes

John Maynard Keynes was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments, especially his advocacy for active government intervention to stabilize economies.

The Classicals

A group of economists in the 18th and 19th centuries, including Adam Smith and David Ricardo, who developed theories about how economies function.

Price Level

The overall level of prices for goods and services in an economy at a specific point in time.

Aggregate Supply Curve

Curve showing the level of real GDP produced at different price levels during a time period, ceteris paribus.