Economists in Favor of the Functional Finance Approach to Balancing

question 350

True/False

Economists in favor of the functional finance approach to balancing the federal budget believe that the first priority of lawmakers is to keep the economy at full employment with stable prices, not to balance the federal budget.

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Definitions:

Ethnic Backgrounds

Refers to an individual's cultural heritage, including the customs, traditions, and values inherited from one's forebears based on ethnicity.

Socioeconomic Backgrounds

The social and economic circumstances in which individuals are raised, which often influence their future opportunities, attitudes, and behaviors.

Longer Life

Refers to an increase in the average lifespan of a population, attributed to factors such as improved healthcare, nutrition, and living conditions.

Lower Classes

Social groupings at the lower end of a socioeconomic hierarchy, often characterized by limited access to resources.