Question : "Functional Finance" is associated with:
Option 1: Adolph Wagner
Option 2: Adam Smith
Option 3: John Adams
Option 4: Abba P. Lerner
Correct Answer: Abba P. Lerner
Solution : The correct option is Abba P. Lerner .
Functional finance is an economic-related theory developed during the Second World War. The theory is based on demand principles. Functional finance promotes deficit spending to reduce unemployment, controlling consumer spending through tax policy, and controlling interest rates, inflation, and the cash flow through the economy.
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