How Did the Great Economist John Maynard Keynes Explain His

question 37

Multiple Choice

How did the great economist John Maynard Keynes explain his comment that although economics is an easy subject compared with the higher branches of philosophy or pure science, it is a subject at which few excel?

• A) Most people who study economics are not very bright.
• B) Good economists must possess a rare combination of gifts.
• C) Economics is actually quite boring; hence, people tend to lose interest in it.
• D) Good thinkers become frustrated with economics because it is not logical or relevant.

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Definitions:

Obligor

A person who is bound by a promise or other obligation; a promisor.

Statute of Frauds

A legal doctrine requiring certain contracts to be documented in writing and officially signed, aimed at preventing fraudulent claims and enforcing agreements.

Oral Contract

An agreement between parties that is spoken and not written, yet is legally binding under certain conditions.

Indefinite Period

A time span without a specified end date.