Keynes Once Remarked That, in the Long Run, We're All

question 109

Multiple Choice

Keynes once remarked that, in the long run, we're all dead. He was responding to the conventional wisdom of classical economics who argued that:

• A) the supply curve should remain vertical in the long run.
• B) World War I was fought to free Britain from economic ruin.
• C) the depression was only a short-run, temporary departure from full-employment equilibrium.
• D) market-based realities cause the estate tax to be too high.

---

Definitions:

R-chart

A control chart used for monitoring the variability of a process.

Control Limits

Boundaries in process control, within which a process operates efficiently, used to detect signals or causes of variations that could indicate a problem.

Sample Size

The total count of individual samples or observations used within a research study or experiment, critical for the reliability of results.

Control Chart

A graph used to study how a process changes over time, showing plotted values of some statistical measure against time to identify outliers or trends.