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Explain how 'high government spending crowds out private spending. (10 marks) Keynes proposed that consumption depends on current income. Briefly discuss three other determinants of
- Explain how 'high government spending crowds out private spending". (10 marks)
- Keynes proposed that consumption depends on current income. Briefly discuss three other determinants of consumption. (10)
- Briefly discuss three policy rules for monetary policy that a central bank such as the Fed might follow. Why may these policy rules be superior to discretionary policy?
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International Economics
Authors: Thomas A. Pugel
15th edition
73523178, 978-0077769529, 007776952X, 978-0073523170
