The Difference Between the Classical Approach and the Keynesian Approach

question 41

Multiple Choice

The difference between the classical approach and the Keynesian approach to fiscal policy is

• A)Keynesians believe that natural forces in the economy would tend toward full employment
• B)Keynesians believe that natural forces in the economy would not tend toward full employment,but they were distrustful of government's ability to stimulate the economy
• C)classical economists believe that the economy would not achieve its potential GDP but that any action of the government would make matters worse
• D)Keynesians believe that it may be necessary that government increase aggregate demand so as to stimulate output and employment,if the economy is to achieve its potential output
• E)both the classical economists and Keynesians were equally distrustful of government intervention in the economy

Familiarize with the creation and usage of Java applets and HTML pages through practical examples.

Understand the principles of the Dobzhansky-Muller model of speciation.

Comprehend the various species concepts and their applications.

Identify factors contributing to speciation and reproductive isolation.

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Definitions:

Possible Justification

Potential reasoning or explanation that can support or legitimize a particular action or decision.

Market Leader

A company or brand that has the highest sales or market share in a particular industry or market.

Sherman Act

The Sherman Act is a foundational antitrust law in the United States that prohibits monopolistic practices and promotes competition.

Joint Action

A collaborative effort where two or more parties work together towards a common goal, typically in a legal or governmental context.