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During the 1960s and 1970s, social psychologists who favored laboratory experiments rebuffed critics about the limitations of laboratory work by arguing that
Keynesian Economics
An economic theory stating that government intervention can stabilize the economy through monetary and fiscal policies, especially during recessions.
Fiscal Policy
Government policies concerning taxation and spending to influence the economy, aiming at managing economic growth and stabilizing prices and employment.
Fiscal Policy
Government policy relating to taxation, government spending, and borrowing, aimed at influencing a country's economy.
Monetary Policy
A strategy employed by a nation's central bank to control the money supply, often targeting inflation or interest rates to ensure economic stability.
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