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Please answer all mcqs. If you answered incompletely, I will give you a negative rating and you will be removed off the platform.

7. Which of the following are supported by Keynesian economics? I. Markets always work. II. The economy is self-correcting. III. Demand side matters. IV. Government intervention can be necessary to restore full employment.

a. I and II

b. II and III

c. III and IV

d. I, II, and III

e. II, III, and IV

f. I, II, III, and IV

8. Classical economists believe that savings is ____________, while Keynesian economists believe that savings is ____________.

a. a drain on demand; crucial to growth

b. crucial to growth; a drain on demand

c. Both believe that savings is crucial to growth.

d. Both believe that savings is a drain on demand.

9. During the 2008–9 Great Recession, the Obama administration proposed several stimulus packages with an aim to recover the economy from the economic crisis. Which school of thought will most likely support the administration’s policy prescriptions?

a. Keynesian

b. Classical

c. Both Keynesian and classical

d. Neither Keynesian nor classical

Please answer all mcqs. If you answered incompletely, I will give you a negative rating and you will be removed off the platform.

Explanation / Answer

7 - (c)

8 - (b)

9 - (a)

10 - (c)

11 - (c)

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