In the General Theory of Employment, Interest, and Money, Keynes

question 60

Multiple Choice

In The General Theory of Employment, Interest, and Money, Keynes

• A)recommended international trade to increase economic stability after recessions.
• B)encouraged government actions to shorten the recovery time of recessions..
• C)supported free markets.
• D)observed budget surpluses were necessary fixes following budget deficits.

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Definitions:

Downward-Sloping

Describes a line on a graph that decreases in height as it moves from left to right, indicating a negative relationship between two variables.

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in the product's price, indicating that consumers are less sensitive to price changes.

Total Revenue

The total receipts from sales of a given quantity of goods or services. It is the total income of a business from its sales activity.

Price

The amount of money required to purchase something or the value that consumers are willing to exchange for a good or service.