Which British Economist's the Economic Consequences of the Peace Warned

question 17

Multiple Choice

Which British economist's The Economic Consequences of the Peace warned that charging Germany high reparations would have negative consequences?

• A)Friedrich Hayek
• B)Adam Smith
• C)Irving Fisher
• D)John Maynard Keynes
• E)Thomas Malthus

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Definitions:

Production Possibilities Frontier

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Technological Improvement

Technological Improvement refers to advancements in technology that increase productivity and efficiency in the production of goods and services.

Inefficient Production

The process of producing goods or services in a way that uses more resources or takes more time than necessary, leading to wasted potential outputs.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.