Which of the following best describes Keynesian economics?
A) A mixture of free market and social programs.
B) Long-term inflation would lead to an unregulated market.
C) Economic policy was a mixture of socialism and laissez-faire.
D) Boom and bust cycles were part of economic life.
E) A growth economy with some inflation was desirable.
Question 2
The Incan idea of a central relief fund is similar to which of the modern America concepts below?
A) an early form of disaster relief program
B) a primitive version of Social Security
C) some of the provisions of Medicare
D) elements of a welfare state
E) an ancient form of the Internal Revenue Service
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