Prior to the Time of John Maynard Keynes, Most Economists

question 42

Multiple Choice

Prior to the time of John Maynard Keynes, most economists stressed that

• A) low levels of aggregate demand would lead to prolonged periods of unemployment.
• B) market economies were inherently unstable because of fluctuating aggregate demand.
• C) market adjustments would automatically direct an economy to full employment within a relatively brief period of time.
• D) budget deficits and surpluses were necessary for the control of economic fluctuations.

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Definitions:

Burn

an injury to tissues caused by heat, chemicals, electricity, radiation, or sunlight, characterized by pain and varying degrees of skin damage.

Epidermis

The outermost layer of skin, serving as a barrier to protect the body against environmental threats.

Dermis

The layer of skin beneath the epidermis that contains nerve endings, sweat glands, hair follicles, and blood vessels.

Classification

The systematic arrangement in groups or categories according to established criteria, used across various contexts, including biology, information management, and library science.