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Describe and state the historical significance of the following:
-Puritans
Interest Rate
The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal, over a specific period.
Subnormal Activity
Activities or economic conditions below the standard or average level, often indicative of a slowdown or recession.
John Maynard Keynes
A British economic thinker whose insights led to significant shifts in macroeconomic practices and the economic approaches of governments.
Economy
The organized system of human activity involved in the production, consumption, and trading of goods and services.
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