B) Behavioral decision making
C) Complete decision making
D) Utilitarian decision making
E) Rational decision making
Answer:
E) Rational decision making
Explanation:
Based on the scenario being described within the question it can be said that Greg is following a rational decision making perspective. This perspective focuses on a process that favors making decisions based on logic, objectivity, and analysis over subjectivity and insight. Which in this case, focusing on making the best overall purchase for the budget that Greg is on is the most logical and financially correct decision, therefore it is a rational decision.
Complete Question:
Suppose the economy is on the classical range of the aggregate supply curve and has a problem with inflation. to use in this According to Keynesian theory, which of the following is an appropriate discretionary fiscal policy to use in this situation?
a. A reduction in the money supply.
b. Less government regulation.
c. Increase federal spending
d. Higher taxes.
Answer:
Higher taxes is an appropriate discretionary fiscal policy to use in this situation
Explanation:
The hypothesis that Keynesian economy is said to raise demand by the government to boost production. Keynesians assume that the primary force of an economy is customer demand. As a response, expansionary monetary policy is endorsed in principle.
The British Government at that time was strongly critical of Keynes. The government reduced social security costs and increased taxation in order to balance national accounts. This did not inspire people to invest their money, left the economy unified and unwilling to rebound and return to a prosperous state. Keynes said.
Alternatively, he proposed that the government would spend more resources to boost the appetite of customers in the economy. In addition, the total economic performance will be improved, which would lead inevitably to growth and a decrease in unemployment.
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b. Undercapitalization
c. Control of expenses
d. Management of cash flows