In 1936, John Maynard Keynes Published a Book, the General

question 169

Multiple Choice

In 1936, John Maynard Keynes published a book, The General Theory, which attempted to explain

• A)stagflation.
• B)the classical dichotomy.
• C)short-run economic fluctuations.
• D)how changes in the money supply had created the Great Depression.

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Definitions:

Formal Relations

Social connections and interactions that are governed by officially established rules and structures.

Informal Relations

Interactions and connections between individuals or groups that are not governed by formal rules, structures, or procedures, often based on personal or community ties.

Keynesian Economics

An economic theory proposed by John Maynard Keynes, suggesting that government intervention through public policies can influence macroeconomic productivity and stabilize economies.

Neoliberalism

An ideology and policy model emphasizing free-market capitalism, deregulation, and reduction in government spending.