The Keynesian Theory Focuses on Aggregate Supply, While the Classical

question 77

True/False

The Keynesian theory focuses on aggregate supply, while the classical theory focused on aggregate demand.

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Definitions:

Physiological Needs

Basic physical requirements for human survival, such as air, water, food, shelter, and sleep, which are considered the foundation of Maslow's hierarchy of needs.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a hierarchy of needs culminating in self-actualization.

D-Motivation

A concept related to motivation driven by deficiency needs, such as physiological and safety needs, as opposed to growth or being needs.

B-Motivation

Motivation driven by self-actualization and personal growth rather than by basic needs satisfaction.