Describe the Fiscal Policy Remedies That a Keynesian Economist Might

question 104

Essay

Describe the fiscal policy remedies that a Keynesian economist might prescribe to close a recessionary gap.How might the issue of crowding out impact the effectiveness of these policies?

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Definitions:

Behaviorism

Behaviorism is a psychological approach that emphasizes the study of observable behaviors and the processes behind learning, excluding theories of the mind.

Wundt

Wilhelm Wundt, often regarded as the father of experimental psychology, who established the first psychological laboratory in Leipzig, Germany, in 1879.

Repressed Conflicts

Unresolved, often unconscious, conflicts that lead to psychological distress or behaviors, according to psychoanalytic theories.

Phobias

Intense, irrational fears of specific objects, situations, or activities that lead to avoidance behavior.