-32. Who is the \"father\" of modern macroeconomics? a. Milton Friedman b. Karl

Question

-32. Who is the "father" of modern macroeconomics? a. Milton Friedman b. Karl Marx c. John Maynard Keynes d. Friedrich von Hayek _33. A price ceiling leads to a___ and a price floor leads to a- a. shortage... surplus b. surplus... shortage c. surplus..equilibrium d. shortage...equilibrium 34, which of the following is a fiscal policy tool? a. Interest rates b. Taxes c. Reserve requirement d. Discount rate 35. During a recession, the government should taxes and the Fed should __ bonds. a. increase...sell b. decrease..buy c. increase..buy d. decrease... sell 36. A contractionary monetary policy by the Federal Reserve will a. have no effect on the U.S. dollar. b. appreciate the U.S. dollar and lead to an increase in exports. c. depreciate the U.S. dollar and lead to a decrease in exports d. appreciate the U.S. dollar and lead to an increase in imports _37, Friedrich von Hayek's economic thinking is most diametrically opposed to a. Milton Friedman's b. Alan Greenspan's. c. John Maynard Keynes d. Adam Smith's.

Explanation / Answer

Ans)

32.
c. John Maynard Keynes
Keynes is the father of modern macroeconomics forming one of the most important economists of all time.
33.
a. shoratge ..surplus
A price ceiling is a price control which when levied under the equilibrium price leads to a
shortage.A price floor when levied above the equilibrium price leads to a surplus.
34.
b. Taxes
Fiscal policy is the spending and taxation policy of the government.
35.
b. decrease..buy
During a recession the government should enact an expansionary fiscal policy and the Fed an expansioonary monetary policy.

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.