John Maynard Keynes Disagreed with the Classical Economists Because He

question 13

Multiple Choice

John Maynard Keynes disagreed with the classical economists because he believed that

• A)wages and prices adjust slowly.
• B)international trade plays a major role in the macroeconomy.
• C)government intervention in the economy cannot reduce business cycles.
• D)unemployment will be eliminated quickly by the invisible hand of the market.

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Definitions:

Seed Trees

Individual trees left standing after logging to provide seeds for the natural regeneration of the forest.

Timber Yield

the volume of wood that is produced from a forest or a forest stand over a certain period of time.

Variety

In biology, a rank below species that groups individuals sharing certain traits distinct from others in the species.

Variability

The degree to which data points in a dataset differ from each other and from the average.