Which of the Following Best Describes Most Economists' Approach to Economic

Multiple Choice

Which of the following best describes most economists' approach to economic stabilization until the 1930s?

A) Maintain a balanced budget at all times, under the principle of sound finance.
B) Use a sound finance approach during normal economic times, and a functional finance approach during a recession or a boom.
C) Run larger deficits during recessions and smaller deficits during economic booms, counting on economic growth to be high enough to keep the debt-to-GDP ratio low.
D) Economists were wholly concerned with microeconomics and had ignored problems of government deficits, debt, recessions, and economic growth.