John Maynard Keynes Wrote the General Theory of Employment, Interest

question 91

Multiple Choice

John Maynard Keynes wrote The General Theory of Employment, Interest, and Money (1936) to

• A)improve the gold supply balances of the British government.
• B)prove that the punitive nature of the Treaty of Versailles would ultimately lead to recession in Europe.
• C)prove that active government policy would produce unemployment and high rates of inflation.
• D)demonstrate that pessimistic consumers and businesspersons could reduce their spending and condemn the economy to long-run stagnation.

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Definitions:

Yield Management

A pricing strategy used in industries with fixed capacities, such as hotels and airlines, to maximize revenue through the manipulation of prices based on demand.

Variable Costs

Costs that vary directly with the level of business activity.