John Maynard Keynes is best known for his work in macroeconomics, particularly for his theory that government intervention through fiscal policy (taxing and spending) can be used to manage economic cycles, stimulate economic growth, and reduce unemployment. This was a significant departure from the classical economics prevailing before him, which often emphasized minimal government intervention.

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John Maynard Keynes

Question 12

Multiple Choice

John Maynard Keynes

A) focused on microeconomics.
B) did his most important work in the late nineteenth century.
C) discounted macroeconomic theory as largely irrelevant to national concerns.
D) thought that government taxing and spending could significantly affect the economy.

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