Pedro is a Keynesian economist and argues that in a downturn, state intervention is the key for economic recovery.
Keynesians believe that GDP (Gross Domestic Product) is positively influenced by aggregate demand. Hence, in order to boost GDP growth after a downturn, the state should step in the economy by increasing public expenditure. This will help to create job positions, increase the disposable income of households and therefore increase overall demand for goods and services.
If more goods and services are demanded, the same cycle restarts as firms would hire more staff in order to increase production to a greater extent to meet the new necesities. The more people who is employed, the more income avilable to continue increasing private expenditure and investments, which in turn GDP and bring economic growth.
<em><u>To make it clearer, the following is the GDP formula for a certain time period</u></em>
<em>GDP = Private Consumption + Private investment + Public expenditure + Exports - Imports </em>
Answer:
the Democratic Party
Explanation:
Despite the apparent dominance of <u>the Democratic Party</u> in Texas for most of the twentieth century, schisms developed between liberals and conservatives within the party. This divisions in the Democratic party contributed to the growth of the Republican party in Texas. Currently, Texas is predominantly a Republican state.
In united states, the most populated religious groups reside on the southern part of the united states.
Back then, most people within this group wanted the involvement of religion within the Government , while most of the northern population wanted the separation of States and church
Grassroots is on opposition to the main power; it refers to the individual people, and their organisation, who are not in power positions. Often this means a local organisation, which focuses on the specific issues of the group rather than tries to participate in big-scale politics.
