In 1936, John Maynard Keynes Published a Book, the General

question 169

Multiple Choice

In 1936, John Maynard Keynes published a book, The General Theory, which attempted to explain

• A)stagflation.
• B)the classical dichotomy.
• C)short-run economic fluctuations.
• D)how changes in the money supply had created the Great Depression.

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Definitions:

Trade Surplus

A situation where a country exports more goods and services than it imports, leading to a positive balance of trade.

Tariffs

Taxes imposed on imported goods, often used to protect domestic industries from foreign competition.

Fair Trade

A social movement and market-based approach that aims to help producers in developing countries achieve better trading conditions and promote sustainability.

Free Trade

International trading practices characterized by minimal governmental intervention regarding tariffs, allowing for the unobstructed exchange of goods and services.