An increase in interest rates

An increase in government spending

High velocity of money

Selling government bonds

An increase in interest rates

An increase in government spending

High velocity of money

Selling government bonds

An increase in interest rates

An increase in government spending

High velocity of money

Selling government bonds

It is pro-cyclical (makes the business cycle more severe)

It creates excess funds for public projects.

It leads to increasingly high taxes.

It leads to fluctuating tax rates.

It is pro-cyclical (makes the business cycle more severe)

It creates excess funds for public projects.

It leads to increasingly high taxes.

It leads to fluctuating tax rates.

It is pro-cyclical (makes the business cycle more severe)

It creates excess funds for public projects.

It leads to increasingly high taxes.

It leads to fluctuating tax rates.

An increase in government spending on public infrastructure, even if this spending results in greater budget deficits.

A decrease in government spending in order to offset the decrease in tax revenues that result from an economy in recession.

An increase in personal income taxes in order to help balance the budget.

A decrease in government transfer payments.

An increase in government spending on public infrastructure, even if this spending results in greater budget deficits.

A decrease in government spending in order to offset the decrease in tax revenues that result from an economy in recession.

An increase in personal income taxes in order to help balance the budget.

A decrease in government transfer payments.

An increase in government spending on public infrastructure, even if this spending results in greater budget deficits.

A decrease in government spending in order to offset the decrease in tax revenues that result from an economy in recession.

An increase in personal income taxes in order to help balance the budget.

A decrease in government transfer payments.

John Maynard Keynes

Adam Smith

Alfred Marshall

William Stanley Jevens

Carl Menger