The New Economic Views of John Maynard Keynes Held That

question 32

Multiple Choice

The new economic views of John Maynard Keynes held that

• A) government public works spending would cut unemployment and revive an economy.
• B) unemployment resulted from an inflationary increase in demand.
• C) budget deficits must be avoided at any cost.
• D) governments should pursue a policy of economic laissez-faire.
• E) governments must print unlimited amounts of money.

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Definitions:

Evaluation Systems

Structured processes used to assess performance, effectiveness, or value of employees, projects, or programs within an organization.

Social Exchange

A theory that suggests human relationships are formed based on a subjective cost-benefit analysis and the comparison of alternatives.

McGregor's Theory Y

A theory of management that assumes employees are self-motivated, seek responsibility, and are creative problem solvers.

Lower-Order Needs

Basic human requirements such as physiological and safety needs that must be satisfied before higher-order needs can be addressed, according to Maslow's hierarchy.