The Rise of Supply Side Economics 70 According to the neoclassical

The rise of supply side economics 70 according to the

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Topic: 13-11 The Rise of Supply-Side Economics70. According to the neoclassical economists, what would happen if production exceeded total spending in an economy?
71. According to neo-classical economists, if prices are truly flexible, what determines aggregate supply? Aggregate supply would be determined by:resource availabilityproductivity the current state of technologyAccessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: HardLearning Objective: 13-01 Explain why neoclassicists believe the economy will automatically achieve full-employment equilibrium.Topic: 13-03 Neoclassical Economists and Aggregate Demand and Supply72. In the decade of the 1990s several significant events occurred. What were these events which changed the world and provided evidence of the predominance of the market system? 73. By June 2010, the effects of stimulative policies showed countries were coming out of recession. However, there were other concerns regarding the impact of the policies. What was the major concern?
74. The response of the US and Canada to budget deficits that had arisen from stimulative policies were different from those of European countries. Explain the differences. The US and Canada favoured the continuation of stimulus packages whereas European governments favoured their abandonment.Accessibility: Keyboard NavigationBlooms: RememberBlooms: UnderstandDifficulty: HardLearning Objective: 13-05 Explain the cause of the 2008 financial crisis; its financial and economic consequences; and the political fallout.

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