Economists Generally Believe That During an Expansion, an Economy Should

question 51

Multiple Choice

Economists generally believe that during an expansion, an economy should:

• A)balance its budget.
• B)run a budget deficit.
• C)run a budget surplus.
• D)be able to pay off all of its debt.

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Definitions:

Dual-Coding Theory

A theory of cognition proposing that visual and verbal information are processed differently and along distinct channels in the human mind, enhancing learning.

Semantic Codes

In psychology and cognitive science, it refers to the process of encoding information into memory, focusing on the meaning of the information.

Structural Encoding

Structural encoding is the process of encoding information according to the structure of objects, focusing on the physical features rather than the meaning.

Phonemic Encoding

The process by which sounds are translated into mental symbols for storage in memory.