Which of the following is a difference between John Maynard Keynes and the classical economists?
A) Keynes did NOT believe that unemployment was a serious long-term problem, but the classical economists did believe this.
B) Keynes did NOT believe that the economy was always in equilibrium, but the classical economists did believe this.
C) Keynes did NOT believe that the economy necessarily settled at full employment, but the classical economists did believe this.
D) Keynes believed that the economy was always in equilibrium, but the classical economists did NOT believe this.

Question

Which of the following is a difference between John Maynard Keynes and the classical economists?  
A) Keynes did NOT believe that unemployment was a serious long-term problem, but the classical economists did believe this. 
B) Keynes did NOT believe that the economy was always in equilibrium, but the classical economists did believe this. 
C) Keynes did NOT believe that the economy necessarily settled at full employment, but the classical economists did believe this. 
D) Keynes believed that the economy was always in equilibrium, but the classical economists did NOT believe this.

Quizplus · Accepted Answer

Keynes did not believe that the economy necessarily settled at full employment, whereas the classical economists believed that the economy would tend towards full employment in the long run without intervention.

Which of the Following Is a Difference Between John Maynard