The Prevailing Budget Philosophy Prior to Keynes Called for a Balanced

question 46

Multiple Choice

The prevailing budget philosophy prior to Keynes called for a balanced budget. Keynes argued that the government should not balance its budget but instead have budget deficits during

• A) economic booms.
• B) during periods of peace but surpluses during periods of war.
• C) periods of inflation.
• D) economic recessions.

---

Definitions:

Academic Achievement

The extent of a student's success in completing educational benchmarks or obtaining high performance in their studies.

Growth Mindset

The belief that one's abilities and intelligence can be developed through dedication, hard work, and perseverance.

Moral Responsibility

The obligation to act righteously and adhere to ethical principles in one's actions and decisions.

Self-esteem

A measure of how much you value, respect, and feel confident about yourself.