John Maynard Keynes and Friedrich Hayek

question 12

Multiple Choice

John Maynard Keynes and Friedrich Hayek

• A) had similar views with regard to the cause of the Great Depression and what might be done to prevent it from happening again.
• B) both believed that perverse monetary policy was the primary cause of the ups and downs of the business cycle.
• C) both believed that budget deficits and surpluses could be used to smooth the ups and downs of the business cycle.
• D) had polar opposite views with regard to the underlying causes of economic booms and bust, but nonetheless their scholarly work commanded widespread respect among economists.

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Definitions:

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The official residence and workplace of the President of the United States, located at 1600 Pennsylvania Avenue NW in Washington, D.C.