Question
How do the Austrian/classical economists and the Keynesian economists differ in their beliefs about what causes recessions? a) Austrian/classical economists believe recessions are caused by
How do the Austrian/classical economists and the Keynesian economists differ in their beliefs about what causes recessions?
a) Austrian/classical economists believe recessions are caused by a deficit of spending, while Keynesian believe recessions are caused by a misallocation of resources from the previous boom.
b) Austrian/classical economists believe recessions are caused by a increase in the money supply, while Keynesian believe recessions are caused by a increase in aggregate spending.
c) Austrian/classical economists believe recessions are caused by a misallocation of resources from the previous boom, while Keynesian believe recessions are caused by a deficit of spending
d) Austrian/classical economists believe recessions are caused by a increase in aggregate spending, while Keynesian believe recessions are caused by a increase in the money supply
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started