Which of the following statements about Keynes' contribution to macroeconomics is correct?
A) Keynes argued that animal spirits affect consumption more than investment.
B) Although he published his most important ideas about the economy long before the 1930s, few economists paid attention to Keynes until the Great Depression proved him correct.
C) Keynes argued that depressions and recessions were almost always caused by changes in the money supply.
D) Keynes argued that effective demand determines output.
E) Keynes argued that balancing the budget could be an effective way to cure a recession or depression.
Correct Answer:
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Q4: Which of the following was not part
Q5: Which of the following events led to
Q6: The steeper is the IS curve:
A) The
Q7: The research by Robert Hall on the
Q8: Which of the following is an implication
Q10: The theories of investment were developed by:
A)
Q11: Liquidity preference refers to:
A) the controversy sparked
Q12: According to rational expectations theory, monetary policy
Q13: The neoclassical synthesis had emerged by what
Q14: The less staggered are labour contracts:
A) the
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