Articulated by His Book Published in 1936, the Theory That

question 35

Multiple Choice

Articulated by his book published in 1936, the theory that government can use the budget to steer the economy can be attributed to ______.

• A) V. O. Key
• B) Paul Volcker
• C) John Maynard Keynes
• D) Aaron Wildavsky

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Definitions:

Price Elasticity

The measure of how responsive the quantity demanded or supplied of a good or service is to a change in its price.

Substitutes

Goods or services that can be used in place of each other, where the use of one increases the likelihood of the use of the other decreasing.

Price-Elastic

A characteristic of goods or services for which their demand or supply significantly changes with small changes in price.

Mass Transit

Public transportation systems designed to move large numbers of people efficiently via buses, trains, subways, and other modes of transport.