"In the Long Run, We're All Dead" Was Keynes' Way

question 42

Multiple Choice

"In the long run, we're all dead" was Keynes' way of saying that:

• A) output eventually returns, but too slowly, to its natural level.
• B) there is no point in saving for retirement.
• C) intellectual pursuits, like understanding the economy, are unimportant in the scheme of things.
• D) no one would appreciate his theories during his lifetime.
• E) it is very important to save for one's retirement.

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Definitions:

Enforceable

Describes a legal agreement or obligation that can be upheld and compelled by law, allowing one party to ensure compliance by another.

Illegal

Actions or activities that are forbidden by law or statute and subject to criminal or civil penalties.

Exculpatory Clause

A contract provision that releases one party from liability for wrongful acts or negligence.

False Rumour

An untrue statement or tale spread among people, often causing misunderstanding or misinformation.