Match each economist with the scenario that illustrates their economic philosophy.
Keynes
Hayek
answer 2
Unlike Keynes, Hayek believed that proven recovery from post-explosion accident required satisfactory expenditure and arrival at economic generation—a self-creation of blast mutilation caused by painless income. Hayek was kicked out because he needed to “trade labor, sell stocks, sell farmers, etc.” 2) Flour prices have increased in a country where bread is a stable part of the diet. As a result, bread prices have increased significantly. In order to make bread affordable for its citizens, the government has limited the price that bakers can charge for bread. give a strategic response open enough to start creation and business. The British economist John Maynard Keynes spearheaded a wave of monetary reasoning that upended the general idea that free markets would therefore produce full-fledged businesses – that is, all those who needed a job would get one, as long as the workers were adaptable in their wage demands. . .
answer 3
1. The economy of a small Caribbean island depends on tourism. However, in recent times it has seen much less economic activity. Your government decides to let the market correct the situation. Hayek 2. Flour prices have risen in a country where bread is an essential part of the diet. As a result, bread prices have risen dramatically, in an effort to make bread affordable for its citizens, the government has limited the price of cakes for bread. Keynes’ explanation:
answer 4
Get off the freeloading yu stupid blonde barbiee the correct answer is 1) hayek. 2) keys. if it’s for plato
Answer 5
little caribbean… – Hayek Flour Chunks… – Keynes Explanation: This is 100% the correct answer because I asked this question in a test and it was correct. ~Please mark me as the best
Answer 6
The explanation of this question is given below in the explanation section. Explanation: In this question, two different scenarios are given with respect to two different economic theories. First we will know what is the economic theory of Keynes and Hayek, then we will slide the label to correct the situation. Keynes’ economic theory This theory says that the government must increase demand to stimulate growth. Keynesians believe that consumer demand is the main driver of an economy. Accordingly, the theory supports an expansionary fiscal policy. Its main tools are public spending on infrastructure, unemployment insurance and education. A disadvantage is that the excess of Keynesian policies increases inflation. Hayek’s Economic Theory According to this theory, how prices change convey information that helps people determine their plans is widely considered a milestone in economics. Hayek says the markets will heal and the government should not intervene. Keynes says governments must step in to soften the blow of a depression/recession. So, the correct labels for these scenarios are: Keynes: The economy of a small Caribbean island depends on tourism. However, in recent times it has seen much less economic activity. Your government decides to let the market correct the situation. Hayek: Flour prices have gone up in a country where bread is an essential part of the diet. As a result, bread prices have increased significantly. In order to make bread affordable for its citizens, the government has limited the price that bakers can charge for bread.
Answer 7
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