Asked by Charlie Spaulding on May 08, 2024
Verified
To end the Great Recession of 2008-2009,the presidential administrations of George W.Bush and Barack Obama,the Congress and the Federal Reserve used policies consistent with
A) supply side economics.
B) rational expectations theory.
C) conventional macropolicy.
D) behavioral economics.
E) prescriptions of the monetarist school.
Great Recession
A significant and widespread economic downturn that occurred globally from late 2007 through 2009, marked by severe declines in economic activity.
George W. Bush
The 43rd President of the United States, who served from 2001 to 2009, known for his response to the 9/11 attacks and initiating the Iraq War.
Barack Obama
The 44th President of the United States, serving two terms from 2009 to 2017, and the first African American to hold the office.
- Identify the differences between multiple economic theories and how they are applied to macroeconomic policy-making.
Verified Answer
MG
Maritza GonzalezMay 11, 2024
Final Answer :
C
Explanation :
The policies implemented by both the Bush and Obama administrations, as well as the Congress and the Federal Reserve, were consistent with conventional macropolicy. This included measures such as government spending, tax cuts, and monetary policy adjustments aimed at stimulating economic growth and reducing unemployment. These policies were not based on supply side economics, rational expectations theory, behavioral economics, or the prescriptions of the monetarist school.
Learning Objectives
- Identify the differences between multiple economic theories and how they are applied to macroeconomic policy-making.