The Keynesian Approach to Fiscal Policy Calls For

question 75

Multiple Choice

The Keynesian approach to fiscal policy calls for:

• A)budget deficits during periods of inflationary pressure.
• B)budget surpluses during periods of high unemployment.
• C)a balanced budget despite the state of the economy.
• D)tax cuts during recession.
• E)spending increases during inflation.

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Definitions:

Technological Uncertainty

The unpredictability associated with the development and implementation of new technologies, affecting project outcomes and planning.

High Tech

Technologies that are at the cutting edge, the most advanced stage of development in the fields such as information technology, robotics, biotech, etc.

Low Tech

Technologies that are simple, easy to use and maintain, and often do not require advanced knowledge or training to operate.

Medium Tech

Describes technology or industries that sit between high tech and low tech in terms of complexity, innovation, and capital investment.