Why Did Most Countries Largely Abandon Keynesian Policies in the 1970s

question 56

Multiple Choice

Why did most countries largely abandon Keynesian policies in the 1970s and 1980s?

• A)In the face of economic globalization, governments lost the ability to control economic life as they once had.
• B)The publication of Adam Smith's The Wealth of Nations pushed governments toward more liberal economic policies.
• C)High rates of unemployment forced governments to admit that Keynesian policies had failed and to look for alternatives.
• D)The fall of the Berlin Wall demonstrated the failure of communist economic policies in general and Keynesian economics specifically.
• E)The failure of technology to advance sufficiently in these decades crippled Western economies and forced them to invest more heavily in innovation.

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Definitions:

Operators

Symbols in programming that perform operations on operands, such as mathematical operations, logical operations, or assignment operations.

Floating-point Expression

A type of expression in programming that allows for the representation of real numbers with fractional parts, using a format that can store a wide range of values.

Double-precision

A format for representing floating-point numbers that uses double the amount of storage compared to single-precision, allowing for increased precision.