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Political Economy > Keynesiansim > Flashcards

Keynesiansim Flashcards

1
Q

Key Feature of Keynesianism 1 Reduce Gov…

A

debt

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2
Q

Key Feature of Keynesianism 2 what should happen to the market?

A

Deregulate

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3
Q

Key Feature of Keynesianism 3 state run industries should be…

A

Privatise

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4
Q

Key Feature of Keynesianism 4 Cut…

A

Public spending

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5
Q

Along with public spending what according to Keynes should be cut?

A

Taxes

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6
Q

Key Feature of Keynesianism 5 Reduction in … power

A

Reducing these would mean a reduction in the states power

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7
Q

1st problem with old system, in Keynes’ view, of wages at the time of the great depression

A

Wouldn’t fall enough or fast enough

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8
Q

When would business’ invest if interest rates were low?

A

when they perceived a possible rise in sales and pofits

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9
Q

When would sales rise?

A

When demand rose

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10
Q

Keynes’ solutions to great depression NO.1

A

Borrow money

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11
Q

Keynes’ solutions to great depression NO.2 create new and… ….

A

Create new + extra demand

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12
Q

Keynes’ solutions to great depression NO.3 … more

A

Invest more

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13
Q

Keynes’ solutions to great depression NO.4 … more

A

Employ more

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14
Q

Keynes’ solutions to great depression NO.5

A

Generate recovery

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15
Q

Solutions - gov should NO.1

A

Borrow money

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16
Q

Solutions - gov should NO.2 spend on… …. and … and investment

A

Spend on public projects and welfare and investment

17
Q

Solutions - gov should NO.3 …. more than it gains in ….

A

Make sure its spent more than its taxed

18
Q

Solutions - gov should NO.4 inject … … into the economy

A

Inject extra demand into the economy

19
Q

Accelerator Effects NO.1 … and … rise - … can’t keep up

A

Sales and demand rise - business can’t keep up

20
Q

Accelerator Effects NO.2 invest in new ….

A

Invest in new machines

21
Q

Accelerator Effects NO.3 jobs created in … sector

A

Jobs created in the capital sector

22
Q

Accelerator Effects NO.4 more … generally

A

More jobs generally

23
Q

Accelerator Effects NO.5 … spending increase

A

Public spending increase

Political Economy (9 decks)

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