A Set of Ideas That Combines an Openness to and an Awareness

question 62

Short Answer

A set of ideas that combines an openness to and an awareness of diversity across markets and cultures with a propensity and ability to synthesize across this diversity is a(n)____________.

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Definitions:

Monetarist

An economist who believes that variations in the money supply have major influences on national output in the short run and the price level over longer periods.

Keynesian

An economic theory suggesting that increased government expenditures and lower taxes can stimulate demand and pull the global economy out of a recession.

Rational Expectations

An economic theory that proposes people make choices based on rational judgements, accessible information, and previous experiences.

New Classical

An approach in economics emphasizing rational expectations and market clearing, often associated with a resurgence of classical economic principles.